Thai Airways and Turkish Airlines have signed an agreement to pursue a joint venture, although they did not reveal specifics of the potential arrangements.
Thai Airways and Singapore Airlines expect to see greater commercial collaboration and codesharing now that the two flag-carriers have signed a partnership MOU.
As the Bank of Thailand revised the country’s economic growth downwards from 1.8% to 0.7%, the Kingdom’s two major carriers Thai Airways and Thai AirAsia continued to struggle during the first half of 2021.
The administrators have appointed Suvadhana Sibunruang, Thai Airways’ chief human resources, as acting CEO between June 16 to Sept. 30 as they get to work on implementing the rehabilitation plan for the flag-carrier.
Tourism-dependent Thai Airways has reported a record loss of THB141 billion ($4.7 billion) for 2020 after the sector collapsed following COVID-19-related border closures.
Thai Airways will submit its proposed rehabilitation plan to Thailand’s central bankruptcy court on March 2 after the flag-carrier’s request to postpone the submission was approved again.
Two Southeast Asian flag-carriers are moving closer to completing major restructuring efforts that will help them reduce debt commitments and operate efficiently once demand returns.
Thai Airways has put a total of 34 aircraft up for sale, including all of its Boeing 747-400, 777-200 and 777-300, as the flag-carrier turns to more fuel-efficient aircraft for the handful of international flights it now operates.
Targeting Thailand’s religious and predominately Buddhist population, Thai Airways has announced a pilgrimage flight-to-nowhere event that will see an aircraft fly over 99 sacred sites while passengers say Buddhist prayers onboard.