Thai Airways Unveils Plan for 23 Leased Aircraft by 2025 as Part of Restructuring Success

Thai Airways International (TG), as part of its robust restructuring plan, is set to welcome 23 leased aircraft into its fleet by the end of 2025, according to Piyasvasti Amranand, chairman of the airline’s debt rehabilitation administrator. This announcement follows the carrier’s fourth consecutive quarterly profit and signals a positive trajectory for Thai Airways as it aims to conclude its court-supervised restructuring by late 2024.

Under existing lease agreements, Thai Airways is slated to receive eleven A350-900s, two A330-300s, one B787-9, and twelve unspecified A321-types, totaling 26 aircraft. Three A350-900s have already been delivered, leaving 23 aircraft pending. Two more A350s are expected to join the fleet by year-end.

Amranand outlined that eight additional aircraft are scheduled to arrive in Bangkok by mid-2024, with an additional six A350-900s expected in the following year. While the details on the specific A321 types remain undisclosed, Thai Airways is making substantial progress in renewing its fleet.

As of September 30, 2023, Thai Airways, along with its soon-to-be-merged subsidiary Thai Smile, boasts an active fleet of 68 aircraft, with seven in long-term parking and 26 decommissioned aircraft either sold or in the process of being sold. Amranand emphasized the airline’s resilience amid global uncertainties, including economic shifts in China and geopolitical unrest in the Middle East and Ukraine.

The airline’s financial performance underscores its recovery from the challenges posed by the COVID-19 pandemic. Thai Airways reported a net profit of THB1.54 billion baht (USD43.4 million) for the third quarter of 2024, a substantial improvement from the THB4.79 billion (USD134.9 million) loss in the same quarter of 2022. Passenger loads averaged 77.3%, exceeding the previous year’s average, with a total of 3.27 million passengers carried, marking a 22% increase from the comparable 2022 quarter.

Amranand confirmed Thai Airways’ intent to exit the court-supervised restructuring and rehabilitation plan by the end of 2024, surpassing the typical five-year timeline for such processes. The airline’s successful restructuring involves fleet reorganization, cost reduction, debt restructuring, and recapitalization, positioning Thai Airways for a strengthened and sustainable future.