As Thai Airways grasps at straws in an attempt to save its bankrupt and, some airline analysts believe, likely soon-to-be closed airline, the former national carrier has now announced 34 Thai Airways planes are up for sale.
Anyone interested in buying a Thai Airways plane, however, must contact the company by November 13th according to their website. That is how desperate the airline is for the cash.
Airlines they list on the notice of sale include 10 Boeing 747-400s manufactured between 1993-2003, six Boeing 777-200s built in 1996-1998, one Airbus A300-600 built in 1993 and two Boeing 737-400s made in 1992-1993.
Yes, these planes are old.
If anyone does buy a Thai Airways plane, they are likely to receive delivery some time in the second quarter of 2021.
With most airlines around the world grounded, however, or flying extremely reduced flight routes, due to governments’ panic over Covid-19, it is difficult to see who would either be interested in an old Thai Airways plane or would have the available cash to buy one.
Especially as most of these planes are ‘gas-guzzlers’, so would require more money spent on fuel than a more modern plane. Something most international airlines hit with the results of the Covid-19 panic simply cannot afford. (article continues below…)
Will Thai Airways survive or collapse after COVID and debt restructuring?
Thai Airways is currently in debt for more than 332 billion baht (close to more than $11 billion), with not much of a plan to recoup that money other than continuing its operations as normal, sell old planes, and a decision to sell patong-go (deep-fried dough) from various outlets it has set up around Bangkok.
Thailand’s Bankruptcy Court recently approved a business rehabilitation plan but, with Thailand’s borders still closed to most international visitors, and most international flights grounded, it is difficult to see how Thai Airways will be able to adhere to the plan’s requirements.
In an effort to reduce costs, 5,000 Thai Airways employees have been offered and have taken early retirement, and others are working reduced hours.
With most planes still grounded, however, there is little chance the bankrupt airline will be able to increase its income before at least early to mid-2021.
If the Thai government of Prayut Cha-o-cha does not open Thailand’s borders by then, it is unlikely the airline will even still be in existence for much longer.
In that case, all of its planes will likely be up for sale.
Meanwhile, if anyone is interested in buying one of 34 Thai Airways planes, which are being sold on an “As-Is, Where-Is” condition, by the way, you can contact them at aircraftsale@thaiairways.com and express your interest.