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Thai Airways International to shed planes and staff as it seeks new capital
November 2nd 2021
Thai Airways International (THAI) has become the latest airline in the region to reveal plans to reduce staff and its aircraft numbers as it restructures. Read More » The troubled Thai carrier plans to sell 42 planes and eliminate almost a third of its staff from its payroll, the head of the committee responsible for restructuring the airline told Thai media on Monday. Piyasvasti Amranand, a former and successful THAI president, said the aircraft being sold were old and not energy efficient, the Bangkok Post reported. He said 16 aircraft would be returned to lessors, reducing THAI’s fleet to 58 planes across four types. The company is planning to raise as much as 50 billion baht (US$1.5 billion) in new capital — 25 billion baht from existing creditors and other financial institutions and 25 billion baht from the Thai government. “Our biggest problem is liquidity. We need cash to run our operations,” Piyasvasti told the press briefing.
