Thai Airways International continues to make progress in its rehabilitation and may be about to end its chapter 11 process. The latest trustee’s report indicates that progress has been positive and exceeded expectations.
The report notes that Thai Airways had significant revenue growth. In the month of June 2022, the company carried 33% of all of Thailand’s traffic, the same level of 2019. On average, nearly 25,000 passengers per day were mobilized using the services of the airline and its low-cost subsidiary Thai Smile. The airline’s total revenue reached 7.5 billion baht per month: Thai Airways earned 6.844 billion, and Thai Smile 764 million.
The airline will sell its A340s
Thai Airways is awaiting approval from the transport ministry to sell five more Airbus A340s. It will thus hope to satisfy its creditors ahead of the September 1 assembly and receive approval for its rehabilitation plan. According to information from Thansettakij, creditors «are satisfied» with the company’s current management.
Piyasawad Amranan, who is leading Thai’s chapter 11 process, said recently that he sent a letter to Sak Siam Chidchob, Thailand’s transport minister, requesting permission to part with one Airbus A340-500 and four Airbus A340-600s. These aircraft are parked because they are too old or uneconomical to use.
From November 2020 to date, Thai has offered 37 aircraft for sale: ten Boeing 747-400s, six Boeing 777-200s, six Boeing 777-300s, six Airbus A340-600s, three A340-500s, three Airbus A330-300s, two Boeing 737-400s and one A300-600.
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The company currently has a total of 43 aircraft: twelve Airbus A350-900s, twenty-three Boeing 777s, and eight Boeing 787s. Eight A330-300s, six A380-800s, and three Boeing 777-200ERs are pending reactivation. In addition, it is searching the second-hand market for two Boeing 777-200ERs and three Airbus A330s.
