Sections: BangkokThailand

Thai Airways sells warehouse items and leases offices for extra cash

In its latest move to generate just a little more cash in the midst of bankruptcy, cash-strapped Thai Airways is leasing out its office buildings and auctioning off in-flight items like bowls, cups, mugs and packages of “refreshing tissue.”

Thai Airways also recently put 34 passenger airplanes on the market. With the coronavirus-induced travel restrictions, Thai Airways cannot operate fully and is having trouble “taking off.” The company has tried business ventures on the ground and opened a café serving in-flight food to customers seated in repurposed airplane seats. The company also started offering sessions in a flight simulator which has typically only been used for pilot training.

The airline’s rehabilitation plan is still in the works. It’s expected to be completed by the end of the year and will then be submitted to the Central Bankruptcy Court, according to Thai Airways acting president Chansin Treenuchagron.

Before the coronavirus outbreak, Thai Airways expected to generate a revenue of 10 billion baht per month. Chansin says the airlines has only been earning 500 to 600 million baht per month.

To make a bit more money, the airline is leasing out its office buildings, including its headquarters. Thai Airways is also selling some of its assets stored in warehouses which are valued at a total of around 1 billion baht. A Facebook page called TG Warehouse Sale is selling Thai Airways in-flight service items like cutlery, glasses, dishes, napkins, “refreshing tissues” and packages of toothpicks and dental floss. Other warehouse items up for sale include seat covers and aircraft tyres.

SOURCE: Thai PBS

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Caitlin Ashworth

Caitlin Ashworth is a writer from the United States who has lived in Thailand since 2018. She graduated from the University of South Florida St. Petersburg with a bachelor’s degree in journalism and media studies in 2016. She was a reporter for the Daily Hampshire Gazette In Massachusetts. She also interned at the Richmond Times-Dispatch in Virginia and Sarasota Herald-Tribune in Florida.

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  • I always try to buy my wife something different for Christmas, so this year, an aircraft tyre it is!

  • Very commendable - if the sale cash goes to the people that lost money on Thai airway tickets, however i think money made will go toward paying the overpriced top executives.

    • Unsecured creditors never end up with anything anywhere from company liquidations.sucks but that's the way it is,you are at the end of a very long list of creditors.the aviation sector is,if you buy a ticket off any airline at anytime use your credit card.

      • I hope they send me the money they owe me as they still selling tickets for next year but still not give me my money they say we will send it but now seven months later I still waiting they disgust me I will never trust them again and a warning to any one else if u book next year you will more likely get a voucher u can't use please be aware they love to take your money but hate to give it back ever its how they operate according to my tour operator UK should step in and force them to refund as they are hiding behind this pandemic but what do u expect from them

  • How very sad. But there is a lot more going on behind the scenes with Thai Airways, as Thaiger covered in articles a month or two back - with interesting comment on the maneuvering by the Board concerning its debt.

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