Monday, June 13, 2011

Thai Airways to acquire 37 new aircraft

Thai Airways said on Monday its board had approved plans to acquire 37 new aircraft for THB118.6 billion baht (USD$3.9 billion) in 2011-2017.

The national carrier would purchase 15 aircraft for THB49.5 billion baht and would obtain 22 aircraft under an operating lease for about THB69 billion baht, using working capital, it told the stock exchange.

Under the plan, it would buy six Boeing 777-300ERs, with delivery in 2014 and 2015, four Airbus A350-900s for delivery in 2016 and 2017 and five Airbus A320-200s for delivery in 2014 and 2015.

It plans to lease six 787-8s to be delivered in 2014 and 2015 and two 787-9s for delivery in 2017 from International Lease Finance with rental terms of 12 years.

It would also obtain, for delivery in 2016 and 2017, six A350-900s from Aviation Lease and Finance and two from CIT Aerospace International with rental terms of 12 years.

An additional six A320-200s, with a 12-year term of rental, would be leased from RBS Aerospace for delivery in 2012 and 2013.

The procurement is part of its long-term plan to develop a modern, efficient fleet that would meet airline industry standards and help it stay competitive.

Thai Air, with a market value of USD$2.1 billion, is 51 percent owned by the Finance Ministry and competes with bigger rivals Singapore Airlines and Cathay Pacific Airways.

The airline has the ambition to become one of the top three airlines in Asia and among the top five airlines in the world both in terms of quality and service efficiency.


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