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Tuesday, October 3, 2023

Is THAI Airways selling the farm?

A report by Andrew Curran in Simple Flying says that THAI Airways is not only selling Boeing 747s and other aircraft to raise funds but is now selling everything from cutlery to a whole range of aircraft consumables to raise badly needed cash.

With THAI Airways in long standing, serious financial trouble, hugely exacerbated by COVID-19, it has defaulted on over US$2.8 billion worth of loans and bonds and lost $926 million in the first six months of 2020, with THAI has announcing its third-quarter results and another loss, although saying domestic travel was showing some signs of recovery, but international travel was almost zero.

According to a report in THAI PBS World, Thai Airways is checking to see what else they can sell, which it appears the ranges include everything from salt and pepper shakers and wine glasses to seat covers and aircraft tyres.

It appears THAI is following in the footsteps of QANTAS, who sold 747 bar trolleys full of drinks, THAI is selling its stocks of booze for cash, with as Curran says, it could be a great opportunity to pick up some bargain Dom Perignon from the first class supplies or Veuve Cliquot from their business class hoard, with Thai’s  excellent taste in champagne a good indicator of why THAI was always such as pleasure to fly on and why it’s so sad to see it in its current state.

THAI  is also selling various office spaces, including the head office building, with the airline in the middle of a restructuring program under the supervision of Thailand’s Central Bankruptcy Court, with the process similar to Chapter 11 in the USA.

So, if you want to impress the neighbours, you could pick up a 747 at I am sure a really great price to park on your driveway, or some aircraft tyres to have as a conversation piece in the garden at least, or why not stock up with enough champagne to keep you going well into the future?

Sadly though, by the time you read this, the auction will have closed on Friday November 13, but hey, who knows THAI is very keen indeed to sell everything you can imagine, so maybe give them a call or for all sorts of items, visit https://thaishop.thaiairways.com/

An edited report from Simple Flying by John Alwyn-Jones

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