THAI to auction off 34 aging aircraft

Financially-strapped Thai Airways International is to auction off 34 aircraft, with an average age of about 20 years, to anyone who is interested.

The aircraft include the Airbus A340-500 and A340-600, which were bought during the tenure of former Prime Minister Thaksin Shinawatra for service on the non-stop route between Thailand and the United States, which proved to be a financial flop, resulting in about seven billion baht in operational losses.

There are also two Boeing B737-400 aircraft, built in 1992-1993, three Airbus A340-500 planes, built in 2005-2007, six Airbus A340-600, built in 2005-2008, ten Boeing B747-400s, built in 1993-2003, six Boeing B777-200, built in 1996-1998 and six Boeing B777-300, built in 1998-2000.

Twenty of the planes to be sold are still in service, while the rest have been decommissioned.

Interested parties can bid through the website from today until November 13th. The planes are to be sold as-seen, there is no after-sale warranty.

Thai Airways International, Thailand’s flag carrier, is currently in the process of debt restructuring, after it filed for bankruptcy protection.  The airline defaulted on loans and bonds totaling 85 billion baht, or 33.1% of its total assets. It reported a net loss of 28 billion baht in the first half of this year.


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