MIAMI – Through its website, Thai Airways (TG) has put 34 passenger aircraft up for sale. According to the announcement, it expects to sell them before November 13.
The released aircraft list includes 24 Boeing and 10 Airbus planes. On the Boeing side, TG is offering 12 Boeing 747-400s, six Boeing 777-200s and six Boeing 777-300s wide-boy airlines. These were built between 1992 and 2003. On its Airbus front, the airline is seeking to sell one Airbus A300-600, six Airbus A340-600s, three Airbus A340-500s jets. These were made in 1993 as the earliest and 2008 at the latest.
Once the purchase is completed, the carrier said it would deliver the planes by the second quarter of 2021.
Plan to Gain Liquidity, Modernize Fleet
While TG did not comment on what the purpose of the sales was, it could have a win-win situation regarding its balance sheet and fleet. So far, the airline is in debt to the tune of THB$332bn.
On the one hand, the carrier has been facing a business rehabilitation plan since mid-year due to the coronavirus. On the other hand, the exposed aircraft models have several years of service and currently, the majority of TG’s fleet is grounded. It is valid, therefore, that the airline would be looking to generate some revenue from its outlets as these are not needed in the short-term.
Apart from this scenario, the Bangkok Post reported that TG has been desperate to sell its A340-500s. This follows the fact that the jets have a high fuel consumption. However, only one of these has been sold, the one that the Royal Thai Air Force acquired in 2016, according to the media outlet.
Featured photo: Thai Airways Boeing 747 aircraft. Photo: Julian Herzog.