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Thai Airways seeks buyers for 34 used planes as part of restructuring plan

SYDNEY, Nov 6 (Reuters) - Thai Airways International PCL said on Friday it was looking for potential buyers for 34 used Airbus SE and Boeing Co planes as part of its restructuring plan.

The sale of the planes, which are narrowbodied and widebodied aircraft that range between 12 and 28 years old, would require the bankruptcy court’s approval, the airline said in a statement.

Thailand’s bankruptcy court in September allowed Thai Airways to proceed with a plan to restructure 245 billion baht ($7.98 billion) of debt as fallout from the coronavirus pandemic added to woes at the airline, which has been struggling since 2012.

The airline said the sale of the planes would be consistent with its reorganisation plan, which would cut its fleet size as part of an effort to manage costs.

It is accepting expressions of interest in the 34 jets on a website. They include four-engined Airbus A340s and Boeing 747s that are less fuel efficient than newer models and are not in high demand from buyers.

Other types for sale include Boeing 777s, 737-400s and an Airbus A300, with delivery available in the first or second quarter of 2021 on an “as-is, where-is” condition, according to the website.

$1 = 30.7000 baht Reporting by Jamie Freed; Editing by Kenneth Maxwell

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