50 SKY SHADES - World aviation news

Thai to defer aircraft deliveries, sell off redundant assets

Download: Printable PDF Date: 23 Jan 2016 21:07 (UTC) category:
Publisher:
Thai to defer aircraft deliveries, sell off redundant assets - Airlines publisher
Dana Ermolenko
Country: Thailand Aircraft: Airplanes Airline: Thai Airways
Source: CH Aviation

Following a board meeting this past week, the president of Thai Airways International (TG, Bangkok Suvarnabhumi), Charumporn Jotikasthira, told a press conference in Bangkok that additional cost-cutting measures have been proposed including the deferral of new aircraft deliveries as well as the sale of redundant assets.

According to the Bangkok Post, Thai will open dialogue with Airbus Industrie (AIB, Toulouse Blagnac) and Boeing (BOE, Chicago O'Hare) over the planned deferment of deliveries for fourteen aircraft - twelve A350-900s and two B787-9s - from this year, to 2018. The loss-making carrier is also planning to sell off a further forty-two aircraft in its fleet having already disposed of nineteen. This year, it will auction off twelve aircraft including ten A340s, both -500s and -600s, and two B747-400s.

As recently reported, Thai is also planning to transfer its entire fleet of A320-200s to its Thai Smile (WE, Bangkok Suvarnabhumi) subsidiary where narrowbody operations are more coost-effective.

Thai is also looking to raise at least THB1 billion (USD27.7 million) through the sale of offices in Mae Hong Son, Phitsanulok, Udon Thani, Nan, Trang, Surat Thani and Phuket, and two in Hat Yai district of Songkhla. Staff residences in London, Jakarta, Copenhagen, and Singapore (where there are two) are also on the list, which also includes sales offices in Sydney, Rome, Madrid, Hong Kong and Penang.

Though the airline is expected to register an overall loss of around THB15 billion (USD415 million) for its 2015 financial year, Jotikasthira is optimistic Thai will return to profitability this year. Thai is in the process of reducing its workforce from 25,000 to 20,000 and has pruned its longhaul network of underperforming routes to South Africa, the United States, and Europe.





Recommended

Embraer shows a strong presence at the Farnborough Airshow

Embraer will arrive with a strong presence at the Farnborough International Airshow. At the event, Embraer will debut the brand-new E-Freighter, the E190F, marking its first public appearance. The com...

SmartLynx and the Ministry of Transport, Infrastructure, and Public Works discuss airline future development plans in Malta

On July 10, the Minister of Transport, Infrastructure, and Public Works of Malta, Chris Bonett, visited the SmartLynx Airlines office in Santa Venera. The visit commemorated the fifth anniversary of t...

SITA becomes leader in airport solutions following completion of regulatory formalities and legal procedures in the acquisition of Materna IPS

SITA has completed the regulatory formalities and legal procedures to acquire Materna IPS. This strategic move will reshape the aviation industry, resulting in the world’s most powerful pas...

Airbus, Aena, Air Nostrum, Iberia, Exolum and Repsol join forces to study the creation of the first aviation hydrogen hub in Spain

Airbus, Aena, Air Nostrum, Iberia, Exolum and Repsol are partnering to study the creation of the first hydrogen airport hub located in Spain. The six companies have joined forces to address the main c...

Android Apps development in Riga, Latvia