Thai Airways is set to expand its aircraft fleet significantly by 2029, as it exits the debt restructuring process initiated in 2020. According to Bloomberg, the Thai national airline plans to double its fleet size from 79 to 143 aircraft over the next four years.
Piyasvasti Amranand, who was appointed as the debt administrator for Thai Airways, shared insights with Bloomberg about this development. “The debt rehabilitation accomplishment and earnings jump has significantly strengthened Thai Airways’ finances, which has allowed it to return to aggressive expansion mode,” he said.
Currently operating with a fleet of 79 aircraft, Thai Airways aims to broaden its route network across Australia, Europe, and China among other destinations. The types of new aircraft have not been specified yet. Previously, the airline decommissioned older planes and ended leases on less efficient models during the pandemic. From a peak of 100 planes in 2013, including Airbus A380s, their fleet decreased to 64 by late 2022.
In an effort to modernize its fleet further, Thai Airways ordered 45 Boeing 787-9 Dreamliner widebodies in 2024. These are considered “crucial” for replacing aging leased aircraft with deliveries starting in 2027. Their current fleet includes various Airbus and Boeing models.
Before entering restructuring due to net losses since 2013, a resurgence in tourism post-COVID-19 enabled Thai Airways to expand through operating leases. The airline reported a net profit of $452 million in the first nine months of 2024 after a significant loss in previous years.
Weera Wongsan from the Federation of Savings and Credit Cooperatives of Thailand remarked on this rapid turnaround: “Thai Airways’ rapid turnaround is quite astonishing,” adding that “most lenders were prepared for a much longer and more painful recovery timeframe.”
Beyond fleet expansion, Thai Airways has upgraded its short-haul business class cabins by introducing Royal Silk Class on Airbus A320s. This enhancement includes spacious seats with advanced features aimed at improving passenger experience on domestic routes.
This refurbishment will see all Airbus A320-200s equipped with these new premium cabins by mid-2025. The Royal Silk Class offers amenities such as curated dining options and exclusive amenity kits for flights over three-and-a-half hours.
