THAI Announces Bt20 billion in Fleet Upgrade Loans

Published : August 14, 2010 :: 15:08:21 [ 1,878 views ]

THAI Announces Bt20 billion in Fleet Upgrade Loans

Thai Airways International Plc’s (THAI) board recently approved expansion plans for the national carrier and the resultant proposal to borrow up to Bt20 billion from 4 Thai banks, revealed President Piyasvasti Amranand.

Bangkok, the 13^th of August 2010: Thai airways plan to borrow approximately Bt20 billion from four separate Thai-owned banks, including Bt12 billion from Bangkok Bank, Bt3 billion from TMB Bank, Bt2 billion from Thanachart Bank and Bt3 from Tisco Bank, in order to finance a planned upgrade of the national carriers fleet of aircraft.

The planned upgrade and expansion plans have been labelled as an attempt to cater for the changing demands of passengers and to increase capacity of the carrier in order to deal with the return of tourism to the Kingdom following the recent political unrest.

“Tourists came back quickly after the political situation stabilized, so we’re now revisiting our old problem of aircraft shortages,” stated THAI president Mr. Amranand.

THAI, whose major competitor in the region is Singapore Airlines Ltd has sort to modernise its fleet and expand routes available to travellers, the airline agreeing to purchase some 15 aircraft from Boeing and Airbus in June, replacing currently ageing planes.

Contracts were signed on Friday to acquire seven brand new Airbus A330-300s to be delivered in 2011 adding to the existing fleet of 20 A330-300s. Talks are still ongoing in the relation to a lease agreement of 8 new Boeing 777-300 ER’s.

At present, the Thai Airways fleet consists of 88 aircraft with plans to retire approximately 25 before the end of 2015. In a previous report presented to the THAI board, it is estimated that Thai Airways will have approximately 108 aircraft by 2026 with an average age of 7.5 years.

Comments

Bob

said :

Look Moo; there is too much truth to that statement for it to be funny. Look at the American couple already sentenced to jail in their own stupid country for something that happened here while the Thai who accepted the bribe is free.

Email : Bob@toobad.com Date : 2010-08-15 12:12:10

Gary

said :

Why sho a picture of a A380 when thai airways does not have any or plans to bid on them?

What a joke, who are they folling?

Email : greenapple1976@gmail.com Date : 2010-08-15 07:20:04

LookMoo

said :

Airbus will win a majority of all orders as they can bribe officials.. Boeing will lose.

Email : hakanhansson@hotmail.com Date : 2010-08-15 03:21:52

Adrian

said :

Ia a statal company, don't care of the market laws.

Email : adrianpatt@hotmail.com Date : 2010-08-14 20:46:58

Paul England

said :

A bunch of corrupt incompetents in change of an airline. Scary.

Email : ingop67@gmail.com Date : 2010-08-14 20:00:54

pete

said :

"Tourists came back quickly"

Is that a joke?

Thai airways is so expensive that they no competition against other airlines like: Eva,Emirates,Malaysia,Etihad...
You don't solve that problem, with buying new airplanes!

Email : baiganie@gmail.com Date : 2010-08-14 19:42:00