Thai Airways stated the Export Credit Agency (ECA) is currently in the process of approving a guarantee facility for USD222 million in loans for the carrier’s Airbus aircraft purchases, after the Thai Government refused to guarantee loans (Bangkok Post, 14-Jan-2010). President, Piyasvasti Amranand, stated the government’s refusal would not affect its purchase of two A330-300s, as the ECA has already agreed to provide support for four other aircraft procurements.
Export Credit Agency currently in the process of approving loan guarantees for Thai Airways
You may also be interested in the following articles...
Malaysia Airlines CEO Peter Bellew: "Something very wrong in the (Asian) long haul market"
Peter Bellew spent a decade at Ryanair before joining Malaysia Airlines in late 2015, initially as COO before being promoted to CEO in mid 2016. Mr Bellew held a wide range of positions during his tenure at Ryanair – including in operations, training, sales and marketing – providing ample exposure to Michael O’Leary’s unique approach to running an airline.
The new Malaysia Airlines strategy being implemented by Mr Bellew is decidedly non LCC. In recent months the government owned airline has reinforced its premium position, invested in its full service product, resisted unbundling, and pursued closer relationships with travel agents. However, Mr Bellew’s approach with supplier negotiations and media seems at times Ryanair-esque.
Mr Bellew has been extremely blunt in media interviews, public speeches and private meetings. He is not shy to talk about industry weaknesses and challenges – as well as opportunities to secure additional aircraft at bargain basement prices.
Thai Airways Outlook Part 3: new five-year plan to result in more orders, potentially faster growth
The Thai Airways Group is determining a growth rate and assessing its aircraft needs for the medium to long term as part of a new five-year plan. The new plan should be completed by mid-2017 and may result in new narrowbody and widebody aircraft orders by the end of 2017.
Thai Airways is at an important juncture with its fleet as it has only 12 outstanding aircraft orders, all of which will be delivered in 2017 and 2018. The group currently does not have any commitments for additional narrowbody aircraft, which are needed to continue pursuing regional international growth at its full service subsidiary Thai Smile in line with its current multi-brand strategy.
New widebody aircraft are also required for growth and replacements, starting with its ageing 747-400 fleet. The group’s widebody passenger fleet will increase from 72 to 77 aircraft by the end of 2017, partially offsetting recent reductions in the fleet.