Any money made returned these units will be valued as the company seeks to increase revenue within its new strategy.Simple Flying reached out to Thai Airways for comment but had not heard back prior to publication. In an effort to turn things around, the carrier has implemented a The firm will be hoping that the sale of its redundant airliners will go through soon. It underlined that it had no intention "to terminate or liquidate its business" and hoped to continue operations throughout the restructuring process. Nok Air named Grant Thornton Specialist Advisory Services, Prinya This summer, Sumeth said that they are currently going through terms of the contract with the firm before confirming the sale. © Tis Meyer / PlanePics.org Be in the know.We use ads to keep our content free. The deal is under consideration as a policy matter, before going to the Cabinet for approval.Until the sale goes through, the majority of the A340s are still in storage with Thai. By doing so, AOT would ensure that the crucial services continue to be operational regardless of the flag carrier's situation. CH-Aviation reported that the Royal Thai Air Force acquired an A340-500 from Thai Airways back At the end of the year, the airline had liabilities of THB244.9 billion (USD7.7 billion). The efficient, Two years later, Thai are still expressing their interest in selling the A340s. Until the sale goes through, the majority of the A340s are still in storage with Thai. The airline said in a stock market filing that between May 27 and July 9, it had received letters from holders of seven batches of debentures notifying it of a formal default. In addition to the seven batches of debentures, Thai Airways also defaulted on a EUR334.5 million euro (USD387.6 million) loan from the Thai Ministry of Finance. However, one of the units did manage to be shifted. However, one of the units did manage to be shifted. The Nation quote him as saying,Sumeth also stated that they submitted the proposal to Thailand’s Transport Ministry. Former vice president of the airline, Yothin Pamornmontree, has urged a probe into the process which led to the acquisition of four A340-500 s and six A340-600 s. The carrier also defaulted on two smaller loans: THB1 billion (USD31.6...Airports of Thailand (AOT) is prepared to temporarily take over the operation of ground and cargo handling, as well as MRO operations, at The Nation English language newspaper said Nitinai suggested that the state-owned airport operator could enter into a JV and assume responsibility for the three units while Thai Airways goes through its Chapter 11-like restructuring. Two attempts over the past three years have failed, and they remain mothballed at The Thai low-cost carrier said in a stock market filing that as a debtor, it had pursued court-endorsed rehabilitation given the difficult financial circumstances it had found itself in due to the current operating environment. Thai have been suffering from a series of losses over in recent years. While a detailed restructuring plan will only be presented in due course, the airline said that initial steps include the restructuring of its estimated THB18+ billion baht (USD573 million) debt ensuring fair treatment of all creditors, and an operational reorganisation which will focus on the size of its fleet, network, and commercial strategies. The airline operated the A340’s last flights on the 28th March 2016. Wutthiphum is the carrier's current Chief Executive Officer. In fact, Forbes adds that Thai’s A340-500 and -600s are a contentious issue for the airline’s influential cabin crew union. 01.02.2017 - 02:48 UTC French Polynesia's Air Corail rebrands again, defers launchArgentina's Flyest exits bankruptcy, seeks investorsVirgin Atlantic outlines plans to trim lease rates, cut debt Chavalit Uttasart as its rehabilitation planners. However, according to The bleak cost to profit ratio was a catalyst for the airline to give up its goals for the widebody. Having built strong relationships with Qatar Airways, United Airlines, Aeroflot, and more, Sumit excels in both aviation history and market analysis. The purchase of ten A340s in 2003 by Thai Airways International (TG, Bangkok Suvarnabhumi) is being questioned, reports The Bangkok Post. It has now been over four years since Thai Airways International retired its Airbus A340 aircraft. Waiwatana, Tai Chong Yih, Kasemsant Weerakun, Wutthiphum Jurangkool, and Subsequently, the airline was reported to have stated that they intended to sell the aircraft post-retirement. We will update with any further information.Deputy Editor - Sumit comes to Simple Flying with more than eight years’ experience as a professional journalist. Thai seeking a turnaround. Nitinai revealed that Thai Airways owes AOT THB3 billion baht (USD95.6 million) but said that the...Want to receive the latest aviation news delivered right to your mailbox every week? A detailed seat map showing the best airline seats on the Thai Airways Airbus A340-500 (Version 3452). Photo: Airbus How serious is the suggestion? Thai Airways’ A350 is far more fuel efficient than the A340 as a newer twinjet. The re-activation of the A340-600s is still uncertain. The A340-500s were deployed on flights between Since grounding its A340 fleet, the Thai carrier has struggled to find buyers for the aircraft. Nitinai added that once Thai Airways successfully completes its restructuring, AOT could sell its stake in the JV back to the carrier.