The chief executive of Thai Airways International (TG, Bangkok Suvarnabhumi) says the airline has finalised the sale of six B777-200s while contracts for the sale of six B777-300s and six A380-800s have yet to be signed.
Chai Eamsiri made the remarks to Bangkok-based media on the release of Thai's first-quarter results on May 10. In addition to the above aircraft, sale contracts for two A340-600s and a single B747-400 were also signed in the first three months of 2024.
“A contract has already been signed with a buyer for six planes, and the remaining 12 are awaiting a proper contact. We expected to complete the sale of all 18 aircraft this month or next," he said.
The six B777-200s successfully sold are HS-TJA (msn 27726), HS-TJB (msn 27727), HS-TJC (msn 27728), HS-TJD (msn 27729), HS-TJG (msn 27732), and HS-TJH (msn 27733). Emasiri did not disclose the price or the buyer(s) but revealed that the airline had already recorded impairment costs of THB3.34 billion baht (USD91 million). Thai booked the impairment value in relation to 12 aircraft, which it said related to right-of-use assets and spare parts. May 10 regulatory filings noted the bidding price for the aircraft was lower than the booked value.
The same filing noted that Thai Airways recorded a loss of THB6 million (USD163,500) on the sale of the two unspecified A340-600s in the first quarter and a loss of THB27 million (USD736,000) on the sale of the unidentified B747-400. Thai's in-house aircraft disposal team lists six A340-600s and ten B747-400s as sold without providing further details. ch-aviation has contacted Thai for further information.
Meanwhile, Thai added three A350-900s during the first quarter. As of March 31, 2024, Thai and its subsidiaries operated 73 aircraft, with one still in long-term parking. The impairment of unused aircraft, higher operating costs, and a depreciating local currency all hit its first-quarter profits. The airline recorded a Q1 net profit of 2.423 billion (USD65.9 million), 78.9% down on the comparable quarter for 2023.
However, Eamsiri said the lower net profit would have no impact on the company's overall operations, expansion, or rehabilitation plan, which he expects to wrap up later this year.
