Thai Airways Adding A350s, 787s & A321neos To Fleet

Thai Airways has announced plans to expand its fleet by signing a lease agreement with leading aircraft lessor AerCap.

As part of the latest lease agreement, the airline will see four total Airbus A350s delivered, two of which have already begun operations with the company. The remaining two A350s are scheduled for delivery in the first and second quarters of 2024.

Additionally, the airline plans to acquire three Boeing 787-9 aircraft to boost its widebody fleet. The 787s will be delivered from the second quarter of 2024 to the fourth quarter of 2025.

The 787 commitment is away from the recently announced order with Boeing for up to 45 Dreamliners with options for further. Given the delivery timeframe of the 787s from Boeing, the aircraft from AerCap will arrive sooner rather than later.

While widebodies are a prominent part of the latest fleet development, the airline has also unveiled plans to take delivery of ten Airbus A321neo aircraft. These single-aisle next-generation aircraft are scheduled to arrive in the third quarter of 2025 through the second quarter of 2026.

Ultimately, these commitments are scheduled to continue rapidly dropping the average age of the Thai Airways fleet and growing the reliance on next-generation and far more efficient planes.

Comments From Executives

This marks a significant milestone as we celebrate the continuing partnership with AerCap. It’s a testament to the trust and commitment we share, as we emerge from the recent challenging period. The addition of these new generation aircraft enhances our ability to swiftly adapt to the evolving market demands, and not only enhances our operational capacity but also offers exceptional levels of comfort for our passengers.

Chai Eamsiri, the Chief Executive Officer of Thai Airways.

AerCap & Thai Airways Relationship

A relationship between AerCap and Thai Airways stretches towards the mid-1990s when the lessor provided the airline with several leading aircraft types.

Today, AerCap is a leader in the global leasing market, with 300 customers served worldwide. A large bulk of the backlog for aircraft deliveries at leading manufacturers is also taken up by AerCap, highlighting its importance in the market.

Thai Airways Makes Up For Lost Capacity

Ultimately, following a significant restructuring, the airline lost capacity from some of its largest widebody aircraft. While this decision improved expenses and limited costs as the reliance was placed on a smaller, more efficient fleet, the airline didn’t have as many seats to in-demand routes.

After a lengthy period focusing on a turnaround, the airline is firmly in the view of growth and ensuring for future decades that it can adequately compete with existing and potential emerging companies looking to steal market share away from the airline.

The latest lease agreement with AerCap and a newly announced deal with Boeing for next-generation aircraft will ultimately play a pivotal role in helping the airline achieve its long-term ambitions.