Thai Airways puts up 34 planes on the market
07 November, 2020
Thai Airways International is seeking audience for nearly three dozen used Boeing and Airbus jets within the flag carrier’s efforts to restructure 350 billion baht ($11.4bn) of debt.
Prospective buyers have until November 13 to submit their bids and the sale will be under a business reorganisation plan approved by a bankruptcy court in September, according to Thai Airways.
The aircraft on sale include Boeing 747s, Boeing 777s and Airbus 340s, and the planes are being offered on an “as-is, where-is” basis, the airline said on its website.
Thai Airways is restructuring after the coronavirus pandemic devastated the global aviation industry.
Budget carrier Nok Airlines, in which Thai Airways holds a 13 % stake, also won court approval this week to proceed with a debt rehabilitation plan following its business was hit by the slump in travel and tourism.
The aircraft sale is part of Thai Airways’ business reorganisation proceedings, under that your carrier will “have to decrease the fleet size to be suited with the routes and efficiency required in the price management plan”, it said in another statement on Friday.
“The actual sale would require approvals of relevant stakeholders and the Bankruptcy Court,” it said.
Source: www.thenationalnews.com
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