Thai Airways sell-off just the beginning of difficult cost-cutting measures; tickets go back on sale

[webfact]

 

By Panithan Onthaworn

 

Thailand’s national flag carrier Thai Airways International (THAI) said this week that it was planning to sell 42 aircraft by the end of the year as part of its business rehabilitation plan.

 

Insiders at the company told Thai Enquirer that the measures were just the beginning of difficult cost-cutting measures for the airline’s remaining staff.

 

THAI had already cut some 4,250 staff members in April this year as part of cost-cutting measures imposed by its rehabilitation board. This was in addition to the roughly ten thousand jobs it had cut since the beginning of the pandemic.

 

Full story: https://www.thaienquirer.com/33308/thai-airways-sell-off-just-the-beginning-of-difficult-cost-cutting-measures-tickets-go-back-on-sale/

 

-- © Copyright Thai Enquirer 2021-09-29

 

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[bkk6060]

Hope they figure it out, but I would be very hesitant to book this airline for future flights.

[JoePai]

sell 42 aircraft by the end of the year

 

Impossible, the idiots

[bobandyson]

What!!!! They couldn't sell enough puff pastries? It seemed such a good idea at the time.

????

 

 

[GinBoy2]

15 minutes ago, JoePai said:

sell 42 aircraft by the end of the year

 

Impossible, the idiots

Well TG has form here.

 

Even in the best of times they could never offload surplus aircraft since they always overpriced them in the resale market.

 

So here we are with the market overflowing with surplus widebodies (remember TG is a 100% widebody fleet) and not a doubt in my mind pie in the sky aspirations about what these aircraft are worth in today's market.

 

Expect to see them all rotting away with the A340-500's for the next decade

Edited September 29, 2021 by GinBoy2

[JonnyF]

Not sure I'd trust this company with my hard earned cash.

 

Have they refunded all the previously paid for tickets that were cancelled yet? Do they have sufficient funds to refund any future cancellations caused by future waves of the virus? Am I going to lose my seat to the daughter of some General on the board who decides to fly at the last minute?

 

I think I'll be choosing other airlines until they've sorted themselves out.

[MRToMRT]

I can't see me ever going back to them unless they can offer better than the rest at cheaper than the rest which is obviously never going to happen. I quite enjoy my leg stretch in the Middle East these days.

Edited September 29, 2021 by MRToMRT

[Heng]

TG debt to equity is something like 22-23x.     Compare to the most indebted US airline (flip flops between United and Delta) at around 2x.    It's a shame as they should be a total cash cow because of where they are based. 

[steven100]

1 hour ago, webfact said:

planning to sell 42 aircraft by the end of the year

so they have 3 months to sell  42 widebody aircraft  .......     they might as well start parking them up in the junkyard.

 

here is their asset list :      *not sure if it's current

 

 

 

They deserve everything that's coming to them, especially the management.

They couldn't run a BBQ ......    imo

 

 

 

 

Edited September 29, 2021 by steven100

[lesmac]

who to heck is going to buy aircraft just now, more likely the are being reposed 

[RJRS1301]

6 hours ago, webfact said:

to sell 42 aircraft by the end of the year as part of its business rehabilitation plan.

Please tell me with hundreds of aircraft in mothballs, awaiting either buyers of being rebuilt to be put back in service, fewer flight schedules, fewer flights across the globe, who will buy these crafts, perhaps repurpose and refit the fuselages  into housing for the homeless.

However whoever the buyer is, please contact me, I have a bridge for sale.

 

[RJRS1301]

6 hours ago, MRToMRT said:

I can't see me ever going back to them unless they can offer better than the rest at cheaper than the rest which is obviously never going to happen. I quite enjoy my leg stretch in the Middle East these days.

A once good airline, now defunct, the directors for many years should be pilloried by the people.

 

[Paul Henry]

They could take the wings off and use them as submarines this would save the government a lot of money. Just paint them black and park them at naval bases.

[Burma Bill]

7 hours ago, webfact said:

planning to sell 42 aircraft by the end of the year

For scrap???????

 

[RafPinto]

What are they selling?

Aren't they leasing this airplanes?

 

They have massive debts and nobody will buy any airplanes from Thai Airways as they have nothing to sell.

[RafPinto]

Isn't Ferrari Joe looking for investment opportunities?

A few aircrafts on his driveway would make him look good again.

[DaveCW]

1 hour ago, Burma Bill said:

For scrap???????

 

Is that picture photoshopped?.... lol 

[Colabamumbai]

3 hours ago, lesmac said:

who to heck is going to buy aircraft just now, more likely the are being reposed 

The Taliban. 

[zzaa09]

They should just call it a day and be done with it.

For years, corrupted and inept business practices have shed light on where they should be.

[Sydebolle]

I just want the money back which I paid to them more than a year ago. I - for one - will never ever set foot on any of their aircraft! 

[Karma80]

The entire fleet has been parked in Thai airports with no maintenance for over a year. There is a reason that other airlines put them in the desert.

 

Now a bankrupt airline is gonna start flying again after ripping off thousands of consumers.  It's not as if they did a good job before covid.

 

I'll pass thanks and just book SQ.

[steven100]

who the hell will ever buy a TG ticket knowing their history    ?

[Artisi]

5 hours ago, Paul Henry said:

They could take the wings off and use them as submarines this would save the government a lot of money. Just paint them black and park them at naval bases.

Nobody would know the difference, except those that missed the lunch boxes. 

[herfiehandbag]

How long have they been trying to flog those 9 A340s?

 

Maybe they will come as a BOGOF deal?

[Albert Zweistein]

They have been saying this for bloody ages, nobody wants to buy Boeing 340/350 or the 380 Airbus. Production stops anyway the end of this year.

[Soikhaonoiken]

Thai to sell 42 aircraft within 3 months,, well good luck with that, several Airlines are trying to shed some of there fleet due to the pandemic..... 

[jacko45k]

20 hours ago, steven100 said:

so they have 3 months to sell  42 widebody aircraft  .......     they might as well start parking them up in the junkyard.

Possibly look to China.... who are holding back on ordering new from Boeing in some tit-for-tat idiocy. 

[steven100]

47 minutes ago, jacko45k said:

Possibly look to China.... who are holding back on ordering new from Boeing in some tit-for-tat idiocy. 

yeah,  but I believe Boeing just now got the ok for Boeing in China ( correct me if i'm wrong ) .

So maybe China will buy all their 42 planes just to help them out  ?    it's quite possible ...

[Khun Yogi]

8 hours ago, Albert Zweistein said:

They have been saying this for bloody ages, nobody wants to buy Boeing 340/350 or the 380 Airbus. Production stops anyway the end of this year.

Those numbers relate to Airbus aircraft. Not Boeing.

[RafPinto]

2 hours ago, steven100 said:

yeah,  but I believe Boeing just now got the ok for Boeing in China ( correct me if i'm wrong ) .

So maybe China will buy all their 42 planes just to help them out  ?    it's quite possible ...

Or exchange for a few unreliable, useless submarines.

The Scheinese know how to do business.