Thai Airways to invest approximately USD1.1 billion to acquire 15 new aircraft

Thai Airways Board of Directors approved (08-Feb-2010) plans to invest approximately USD1.1 billion to acquire 15 new aircraft between 2010 and 2014 to replace older aircraft. Approximately USD942.8 million will be used to acquire the aircraft, including seven 300-seat aircraft through financial leases for regional routes, and eight 350-seat aircraft, acquired through operating leases for 10-15 years for long-haul routes. The remaining USD126.4 million will be used to acquire engine parts. Thai plans to retire 25 aircraft by 2012. The new aircraft are in addition to the five new A330-300s and six A380s, scheduled to be delivered in 2012-2013. Its board also approved a hedging policy, aimed at minimising the risk of fluctuation fuel prices. [more]

Thai Airways: "We have got many things started and the public will keep seeing implementation and changes. The changes range from the food to on-board entertainment to financial reforms. A THB5 billion [USD150.5 million] investment plan has been approved…We are in the process of kick-starting our 15-year plan. We want to become a five-star airline, not four star as is currently the case. Sometimes we have lapsed into trying to compete with low-cost airlines but it's time to go back up where we belong," Piyasvasti Amranand, President. Source: The Nation, 08-Feb-2010.