Thai Airways lays off 395 pilots as part of debt restructuring for the struggling airline

As Thailand continues to remain closed to all but a handful of non-Thais, the former national carrier Thai Airways is still in deep trouble and struggling to find a way out.

The beleaguered airline is currently in debt to the tune of more than 300 billion baht, international flights are all but a thing of the past and lower numbers of domestic flights are flying with much lower passenger levels than in normal times.


As every new month arrives, and Thailand’s borders still remain shut down, the airline is not experiencing a single situation in which it could hope to recoup some of the money it has lost.

In addition, the domestic market is not currently showing much sign of recovering either.

After all, when the Thai economy is struggling, many Thais do not have money to spend on travel. When they do, dealing with Covid-19 restrictions in various areas of Thailand still makes travel difficult.

 

The Airbus 380 is one of the planes Thai Airways is grounding

Thai Airways lays off 395 pilots

Today’s news that Thai Airways has laid off 395 pilots out of a total of 1,300 should then probably not come as a shock. The struggling airline is desperate to cut costs somewhere, and laying off just over 30% of the company’s pilots is one way to do that.

Along with that decision, Thai Airways has also announced they will be grounding three types of aircraft from their fleet — the Airbus A-330-300, the Airbus 380 and the Boeing 747.

These are some of the airline’s largest planes. Planes it makes no sense to fly when passenger numbers are so low and international flights are not taking place.

The airline has also asked service companies and engine manufacturers to cut their costs although, as those companies are struggling as well during the world shut down over Covid-19, it is difficult to see how they could?

Related: Will Thai Airways survive or is its demise imminent?

Meanwhile, Thai Airways has tried various other ways beyond flights to bring some money into the company’s coffers.

These have included pop-up cafes serving a variety of meals you would expect to be served on a Thai Airways flight.

They also include attempting to sell 34 passenger planes, as well as auctioning off other items that have been stored in the airlines’ warehouses.

With most of the world economies struggling to stay afloat, however, any money Thai Airways has managed to make is probably nothing close to what they currently need.

That is why, the longer the current situation in Thailand continues, the more likely it is Thai Airways will be forced to tighten the belt even further.

Meanwhile, if you are in Thailand and able to fly, you can still book flights via Thai Airways website.