Despite continuing to go through a bankruptcy-protected restructuring process, Thai Airways has extended its fleet by obtaining two brand-new Boeing 777-300ER aircraft.
According to Flightradar24.com tracking data, two new Boeing 777s (registrations HS-TTA and HS-TTB) painted in Thai Airways livery flew from Boeing’s aircraft manufacturing facility in Everett and landed at Bangkok Suvarnabhumi International Airport (BKK) on April 5, 2022.
In addition, a third Boeing 777 aircraft is on its way to the airline. According to Flightradar24.com, the third Boeing 777-300ER registered HS-TTC and wearing Thai Airways livery, is presently undertaking test flights at Boeing’s aircraft construction site.
In 2018, the airline committed to adding three new Boeing 777s to its fleet. Due to the airline’s financial difficulties, the fate of the order was unknown.
Despite the obstacles, it experienced long before and throughout the pandemic, Thailand’s flag carrier appears to be planning to take delivery of three Boeing 777s. In order to repair the airline, which has been losing money since 2012, it filed for bankruptcy protection in 2020.
The airline revealed plans to sell 42 planes and slash roughly a third of its personnel as part of its reorganization plan, which was approved by Thailand’s Central Bankruptcy Court in 2021.
When Thai Airways reports earnings before interest and tax (EBITDA) “in an average amount not less than 20 million baht ($591,541) per year for two years prior to the successful result of the Business Rehabilitation Plan,” the restructuring process would be considered complete.
According to local rehabilitation regulations, Thai Airways must complete the plan in five years.
Thai Airways reported a full-year net profit of more than 55 billion baht (about $1.6 billion) in 2021, showing that the carrier had made some progress in cutting costs.
The airline currently flies 42 aircraft, according to data from Planspotters.net. The airline has 22 Boeing 777s, 12 Airbus A350s, and eight Boeing 787 Dreamliners in its fleet.