Thai Airways' restructuring efforts spur impressive financial turnaround
CAPA - Centre for Aviation, in a report entitled: 'Thai Airways seeks more aircraft to continue its restructuring momentum', stated (04-Dec-2024) Thai Airways' extensive restructuring efforts have spurred an impressive financial turnaround and now the airline is undertaking a rapid fleet rebuild to pursue its revised strategy. The airline revealed the scope of its ambitions in 2023, when it placed an order for 45 Boeing 787s. Since then, it has been adding as many leased widebodies as it can in order to grow into its new opportunities before the 787s arrive. While the airline was already a player in the international transit market before the COVID-19 pandemic, it now intends to put more focus on this part of the business. Thailand is well located as a connecting point between major markets and the airline's fleet overhaul will be better suited to supporting this effort. [more - CAPA Analysis]
Background ✨
Thai Airways aimed to expand its fleet to 90 aircraft by 2025, focusing on leasing more widebody aircraft, including Boeing 777-300ERs and A350s, to meet its expansion goals1. The airline planned to list on the stock market by 30-Sep-2024 and increase its fleet to 100 by 2027, following its rehabilitation plan2. Additionally, Thai Airways expected its first Boeing 787 deliveries in 2027 as part of an order for up to 80 aircraft3.