Thai Airways has managed to sell off five Airbus A340s that haven’t been in use for around a decade. The carrier found an undisclosed buyer for one A340-500 and four A340-600s at a price of 350 million baht ($9.6 million). Let’s look at this…………
Having already sold off more than 10 decommissioned planes in the last couple of years, Thai Airways has reached an agreement with an undisclosed customer for five of its unused quadjets. The five Airbus A340s, some of which have been in storage for over a decade, have fetched 350 million Thai baht ($9.6 million).
As stated at the beginning, this deal is for one Airbus A340-500 and four Airbus A340-600s according to Planespotters.net, Thai Airways’ A340-500 fleet has been in storage since 2012, while most of its A340-600s were withdrawn from use in 2015. This sale adds to the sole Boeing 737-400 and 10 Boeing 747-400 aircraft THAI has managed to sell off as part of its debt rehabilitation program. According to The Thaiger, these deals were collectively worth around 2 billion baht ($55 million).
While it appears the airline is making progress with old aircraft sales, it still has four A340s in storage and continues to actively pursue the sale of these aircraft, while it is also considering flogging other jets in its fleet, including the Boeing 777 and Airbus A380.
Thailand’s flag carrier has devised some interesting ways of raising capital as it tackles a mountain of debt, such as auctioning off Boeing 747 seats via Facebook. The airline’s debts amounted to around $6.73 billion before the pandemic hit, with the health crisis undoubtedly making things much worse. Thai Airways has had trouble shifting its A340s since removing them from service. Back in 2019, the airline had hoped to conclude a deal with an unnamed US company for eight A340s worth up to 4.5 billion baht ($120 million), but this agreement eventually fell through. One A340 sale did go through after the Royal Thai Air Force purchased an A340-600 for 1.75 billion baht ($48 million) in 2016.
The value of its A340s have clearly depreciated since then, given that this agreement for just one A340-600 (plus a spare engine and parts) came in at five times the price of Thai’s most recent deal. Thai Airways operated the A340 for about a decade, welcoming its first in 2005, eventually taking four A340-500s and six A340-600s. The long-haul workhorse saw action on THAI’s extensive international network, traveling as far as Los Angeles and New York, for approximately a decade before they were withdrawn from use and put into storage.
Do you think the aircraft sold for a fair price? And what do you think the buyers of these jets will do with them? Share your best guesses by leaving a comment!