Hundreds of pilots will be laid off under Thai Airway’s debt rehabilitation plan. The cash-strapped airline, which is buried in a debt around 300 billion baht, has also decided to ground 3 types of aircrafts: the Airbus A330-300 and A380, and the Boeing 747.
After months of tackling bankruptcy amid the Covid-19 pandemic, Thai Airways decided to lay off 395 pilots, bringing the airline’s pilots down to 905. The airline says it does not plan to hire more pilots over the next year.
Numerous people have been suspected of mismanagement and corruption that led to massive losses for Thai Airways. A catastrophic decision was made in 2004 when Thai Airways purchased 10 Airbus A340 aircraft for 100 billion baht. The wide-bodied passenger jet came with higher costs on both maintenance and fuel. Thai Airways ended up losing money on every flight. All but 1 of them have been decommissioned and stored at the U-Tapao airport.
In the recent months, Thai Airways has made multiple attempts to try to make some extra cash. With the halt of international travel, Thai Airways did business on the ground and opened a pop-up cafe serving in-flight meals. In November, Thai Airways announced it was auctioning off 34 used passenger aircrafts. They also auctioned off warehouse items and leased its offices for some extra cash.
SOURCE: Nation Thailand
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