The national airline of Thailand has been in the red for a long time and is looking for innovative ways to get out of bankruptcy.
Thai Airways, Thailand’s state airline, has been looking at ways to counter negative balance sheets for some time. Recently, parts of aircraft have been sold to individuals to generate income. Now you’re taking a special step and auctioning off a completely decommissioned plane, says Farang. Below, we’ll show you how those willing to buy can secure the machine and the strategy that Thai Airways follows.
Innovative ways to increase sales
For the state airline of Thailand, things were not going well financially for a long time. Sales are not high enough and therefore negative annual balances are drawn year after year. Corona has greatly exacerbated the problem, but the airline is actively working on a solution. The broad reopening of tourism in Thailand and increased frequencies in the DACH region and London should also ensure that sales increase again soon.
In order to counteract the loss of income caused by the pandemic, Thai Airways set up the TG Warehouse Sale Facebook account some time ago, which has since sold flight items such as plates, bowls, glasses and blankets that are no longer used due to shortages from flight operations. The airline recently sold seats removed from decommissioned planes for around 27,000 euros. But now they are getting better and offering a whole plane for sale.
Entire Thai Airways plane up for auction
The airline announced the scheduled livestream last Wednesday on its Facebook page in a big way. Originally, the auction was scheduled to take place as part of this. However, as it had to be cut down due to technical difficulties in dispatch, it appears that it is now possible to bid on the retired Thai Airways 737-400, photos of which have also been posted and can be viewed via this link.
Anyone considering purchasing the aircraft should have some other requirements in addition to the right asking price and the right capital. With the bid, one must submit this form, which requires a description of the company and its approved articles of incorporation or information about the individual intending to purchase, including proof of identity. In addition, if the bid is being submitted on behalf of a company, a power of attorney attesting that this is in the interest of the company is required. Once these procedures are completed, all that remains is to sign the attached Non-Disclosure Agreement and transfer the approximately €4,100 Bidder Deposit.
Conclusion on Thai Airways Auction
The plan to sell the Boeing 737-400 out of service to ensure the company’s liquidity is undoubtedly a very unusual one, which probably won’t be seen much in this form in the future either. However, for the Reisetopia reader or one who has always played with the idea of owning an airplane, it might be a lucrative opportunity to get one at a reasonable price.