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    AIR   NL0000235190

AIRBUS SE

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Thai Airways looks at A350, 777X for fleet renewal - executive

10/19/2018 | 05:44am EST
FILE PHOTO: A Thai Airways Boeing 777-300ER plane takes off from Bangkok's Suvarnabhumi Airport

JEJU, South Korea (Reuters) - Thai Airways International PCL is considering the purchase of Airbus SE A350s or Boeing Co 777X jets as part of a plan to renew its widebody fleet, a senior executive said on Friday.

The airline submitted a plan to its government to buy 23 jets worth 100 billion baht ($3.07 billion) including some widebodies, but it was last month sent back to the new Thai Airways leadership team for a three-month review.

"Hopefully the figures will not change too much because we need room for expansion," Thai Airways Vice President Alliances and Commercial Strategy Krittaphon Chantalitanon said of the order size on the sidelines of an industry conference.

A decision is expected before Christmas, he said, with the widebody jets to replace ageing 747s, 777-200s and 777-300s. It would also give the airline the capacity to relaunch U.S. flights assuming Thailand's safety rating is upgraded by the Federal Aviation Administration.

"We also have to do proper market studies whether it is the east coast, the west coast or whatever," Chantalitanon said of U.S. flights. "At the moment we have not decided where our metal is going to land and we also need the delivery of our future fleet."

The flights would compete against non-stop U.S. flights from Southeast Asian rivals Singapore Airlines Ltd and Philippine Airlines Inc [PHL.UL]. Chantalitanon said there was enough premium traffic from Thailand and neighbouring countries to make the flights viable.

Thai Airways, which has been struggling financially, is pinning hopes of a revival on the new leadership team, jet purchases and improving its brand as tourism booms in the region.

Chantalitanon said there had been a "bit of a drop" in passenger demand on Chinese routes after a boat accident in July that killed dozens of tourists.

European and Japanese demand was stronger, he said, with the airline adding more flights to those regions.

(Reporting by Jamie Freed)

By Jamie Freed


ę Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -2.00% 113.4 Real-time Quote.0.93%
CHANGE INC. 0.73% 1528 Delayed Quote.-19.54%
E.ON SE -1.37% 12.064 Delayed Quote.-1.05%
LAND CO., LTD. 0.00% 10 Delayed Quote.0.00%
SINGAPORE AIRLINES LIMITED 1.19% 5.11 Delayed Quote.2.40%
TEAM, INC. -6.43% 0.6363 Delayed Quote.-41.62%
THAI AIRWAYS INTERNATIONAL PUBLIC COMPANY LIMITED 29.69% 3.32 End-of-day quote.0.00%
THE BOEING COMPANY -4.09% 205.44 Delayed Quote.2.05%
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Sales 2021 52 090 M 59 086 M 59 086 M
Net income 2021 3 310 M 3 755 M 3 755 M
Net cash 2021 6 191 M 7 022 M 7 022 M
P/E ratio 2021 26,6x
Yield 2021 0,94%
Capitalization 89 115 M 101 B 101 B
EV / Sales 2021 1,59x
EV / Sales 2022 1,33x
Nbr of Employees 125 888
Free-Float 74,1%
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Guillaume Faury Chief Executive Officer
Dominik Asam Chief Financial Officer
RenÚ Richard Obermann Chairman
Sabine Klauke Chief Technical Officer
Alberto Jose Gutierrez Moreno Chief Operating Officer
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