Thai Airways International is in the closing stages of its rehabilitation plan. The airline recently completed its 76 billion baht (£1.78 billion) restructure.
The Court-appointed debt administrator for Thai Airways, Piyasvasti Amranand said:
“The debt rehabilitation accomplishment and earnings jump has significantly strengthened Thai Airways’ finances, which has allowed it to return to aggressive expansion mode.”
So, what’s next for Thai Airways?
The future of Thai Airways
Administrator Piyasvasti Amranand hinted that the airline will experience a relisting on the Thai Stock Exchange in the following months. He also suggested Thai Airways will go through a “significant international expansion”.
Thai Airways’ 2024 investor roadmap revealed the airline’s growth plan for the next decade. They intend to increase its fleet of 79 aircraft to 143 by 2027 while reducing the variety of aircraft they operate. By the end of 2027, it plans to have a fleet consisting of 23 B777-300ERs, 21 A350-900s, 44 B787 types, 52 A320neo family aircraft, and three A330-300s. Beyond this time they will have given the B777-200ER the cut, and discontinue flights on that aircraft.
By 2033, the carrier plans to further expand its fleet, also putting an end to A330 flights. At that point, the airline expects to have a fleet of 150 to include 15 B777-300ERs, 17 A350-900s, 66 B787 types, and 52 A320/321 neo aircraft.
From plan to action
Corresponding to their roadmap, Thai Airways has signed contracts with Boeing and General Electric Aerospace. The deals include the delivery of 45 new B787-9s, with the option of another 35. The airline is also linked to an agreement made for 32 A321neo jets.
The carrier’s current fleet consists of 20 A230-200s, 5 A330-200s, 23 A350-900s, 5 B777-200ERs, 17 B777-300ERs, 6 B787-8s, and three B787-9s. The airline presently flies to 66 airports across 30 countries using this fleet.
Recently, the airline resumed flights to Brussels after suspending the route at the start of the COVID-19 pandemic. They also now run double daily flights into London Heathrow, Frankfurt, Sydney Kingsford Smith, and Melbourne.
In addition, they resumed daily flights to Munich, Zurich, Paris, Milan, Oslo, Copenhagen, and Stockholm. Finally, Thai Airways has increased its frequencies across their intra-Asian network. It may be safe to say that the court’s decision to deny the airline an extra administrator was the right choice.
How successful was this rehabilitation? Tell us what you think in the comments
