COVID and “business rehabilitation” trim the Thai fleet

Thai Airways International Airbus A330-322 HS-TEM (msn 346) BKK (Jay Selman). Image: 404104.

Thai Airways International due to COVID-19 and the loss of routes and passengers as well as the bankruptcy reorganization (known as business rehabilitation in Thailand) has been forced to simplify and trim its fleet.

Currently the airline is only operating three basic types:

Airbus A350-900s

Boeing 777-300ERs

Boeing 787-8/9 Dreamliners

Domestic and regional flights are being operated with Thai Smile Airbus A320s.

The company addressed this process in their first half report of 2021:

On May 26, 2020, the Company submitted a petition to enter into a business rehabilitation process and proposed the rehabilitation planner (“the Planners”) to the Central Bankruptcy Court. On May 27, 2020, the Central Bankruptcy Court accepted the business rehabilitation petition for further consideration. As a result, the Company is under the automatic stay provisions status under the Bankruptcy Act B.E. 2483. Such situation may affect to the Company having to maintain automatic stay status and unable to repay debt, which is considered as debt payment default conditions.

On June 15, 2021, the Central Bankruptcy Court issued an order to approve the business rehabilitation plan and the amendment petitions in accordance with the resolution of the creditors’ meeting on May 19, 2021.

As at June 30, 2021, the Company had 103 aircraft represented in the Company’s fleet, which consisted of 33 own aircraft and 70 aircraft under lease agreements presented as right-of-use assets.

Thai has 13 decommissioned aircraft which are held for sale comprising of 3 Airbus A340-500s, 6 Airbus A340-600s, 1 Airbus A300-600 and 3 Boeing 737-400 aircraft.

Thai has parked all Airbus A330s, A380s and Boeing 777-200s (non-ERs) and 777-300s (non-ERs).

Previously the airline retired the Airbus A340-500 (April 29, 2012), A340-600 (March 29, 2015) and Boeing 737-400 (September 2, 2018) and 747-400 (March 26, 2020).

If traffic returns, some aircraft may be reactivated.

Top Copyright Photo: The 15 Airbus A330-300s are currently parked with an uncertain future. Thai Airways International Airbus A330-322 HS-TEM (msn 346) BKK (Jay Selman). Image: 404104.

Thai aircraft slide show: