Thai Airways Has Sold 5 Airbus A340s That Haven't Flown For Over A Decade

Thai Airways

IATA/ICAO Code:

TG/THA

Airline Type:

Full Service Carrier

Hub(s):

Bangkok Suvarnabhumi Airport

Year Founded:

1960

Alliance:

Star Alliance

CEO:

Suvadhana Sibunruang

Country:

Thailand

Thai Airways has managed to sell off five Airbus A340s that haven't been in use for around a decade. The carrier has found an undisclosed buyer for one A340-500 and four A340-600s at a price of 350 million baht ($9.6 million).

Thai Airways finds buyer for old A340s

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 unused Airbus A340s. The five Airbus jets, some of which have been in storage for over a decade, have fetched 350 million baht ($9.6 million).

The 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to Planespotters.net, Thai Airways' A340-500 fleet has been in storage since 2012, while most of its A340-600s were withdrawn from use in 2015.

The Thai carrier has tried to shift its A340s for years. Photo: Aero Icarus via Flickr

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).

The airline still has four A340s in storage and is actively pursuing 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 245 billion baht ($6.73 billion) before the pandemic hit.

A long time coming

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.

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THAI's A340 days

Thai Airways welcomed its first Airbus A340 jets 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.

The airline's A340 operations were not efficient and ended up costing THAI hundreds of millions. Photo: Getty Images

Simple Flying explored the story of Thai Airways' Airbus A340s in greater detail last year. Interestingly, the carrier had mulled over the possibility of bringing its A340s out of retirement in 2019 but decided against it.

Did you ever fly on a Thai Airways Airbus A340 back in the day? Let us know your memories and stories in the comments.

Source: The Thaiger