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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