Thai Airways International exited court-supervised business rehabilitation on 16 June 2025. That is separate from its fleet plan: a 2024 assessment projected 143 aircraft in 2029—not a doubling from its 77-aircraft operating fleet at 30 June 2024—and 150 by 2033. Later reporting gives a different snapshot: 80 aircraft at the end of 2025, 84 operated in the first half of 2026, and 102 projected by the end of 2026.
Did Thai Airways exit debt restructuring, and when?
The Central Bankruptcy Court ordered termination of Thai Airways’ business rehabilitation process on 16 June 2025. The plan administrators had filed a petition seeking termination on 28 April 2025. The court order marks the end of that rehabilitation process; it does not mean every creditor claim had completed verification.
In its filing, Thai Airways said it had completed the matters required by the rehabilitation plan. These included a capital increase supporting capital restructuring, implementation of the plan without default, positive shareholders’ equity, and appointment of a new board. The filing also reported operating EBITDA after aircraft lease payments of approximately THB 40,308 million for April 2024–March 2025, compared with a THB 20,000 million plan condition. Thai Airways’ court and plan-completion notice
Some creditor claims remained in the Official Receiver’s verification process. Thai Airways’ 2025 annual-report material said claims from six creditors were awaiting final verification by the Central Bankruptcy Court as of 31 December 2025. Rehabilitation termination and the status of individual claim verification are therefore distinct matters. Thai Airways annual reports
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What did Thai Airways’ 2029 fleet plan actually project?
A 2024 fair-value assessment prepared by Capital Advantage Co., Ltd. reported 77 aircraft in operation at 30 June 2024: 57 wide-body and 20 narrow-body aircraft. Its preliminary fleet plan projected 143 aircraft in 2029 and 150 in 2031, 2032 and 2033. The assessment cautioned that actual future aircraft counts could differ from the preliminary plan. Capital Advantage’s 2024 fair-value assessment
On those stated figures, 143 aircraft is not double the 77 aircraft reported in operation at the assessment’s June 2024 baseline. “Double by 2029” is therefore not an accurate description of that particular comparison. The forecast is a dated plan, not a guaranteed delivery or operating count.
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How do the later fleet figures compare?
Thai Airways’ later disclosures give subsequent operating counts and a near-term forecast. They should be read with their reporting periods, rather than treated as a single uninterrupted series of actual fleet totals.
| Period or date | Fleet figure | Status and source |
|---|---|---|
| 30 June 2024 | 77 aircraft | In operation; Capital Advantage’s 2024 assessment. |
| 31 December 2025 | 80 aircraft: 59 wide-body and 21 narrow-body | Reported in Thai Airways’ 2025 full-year results. |
| First half of 2026 | 84 aircraft | Reported as operated in the Stock Exchange of Thailand’s 6M/2026 listed-company snapshot. |
| End of 2026 | 102 aircraft | Projection in the same 6M/2026 snapshot, following gradual delivery of 28 new aircraft; this is a forecast, not a reported year-end outcome. |
| 2029 | 143 aircraft | Preliminary projection in Capital Advantage’s 2024 assessment; actual future totals may vary. |
| 2031–2033 | 150 aircraft | Preliminary projection in the 2024 assessment for each of these years. |
The 2025 year-end count, 2026 first-half operating figure, and 2026 year-end projection come from different reporting periods and have different statuses. For the current-period figures, see the Stock Exchange of Thailand’s THAI company snapshot and Thai Airways’ 2025 results announcement.
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What does the fleet plan mean for routes?
The same 2024 assessment forecast growth in destinations and weekly flights as separate network measures—not as aircraft totals. It set out 90 destinations across 30 countries and 1,715 weekly flights for 2029, against its stated 2024 baseline of 64 destinations across 27 countries and 847 weekly flights. The 2024 assessment’s fleet and network projections
These targets describe different aspects of expansion: aircraft in the fleet, places served, and scheduled weekly frequency. A destination or flight-frequency target does not establish how many aircraft will actually be delivered or operating.
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What is known about aircraft orders and delivery timing?
On 14 February 2024, Thai Airways announced a firm order for 45 mid-range and long-range wide-body aircraft, with deliveries scheduled to start in 2027 as part of a 2024–2033 fleet strategy. The announcement also cited 70 aircraft in 2023, 79 in 2024, and a projection of 90 by 2025. Those were figures and expectations stated in the 2024 announcement; they should not be mistaken for subsequently verified fleet outcomes. The order and planned start of deliveries do not establish that every aircraft in the longer-term fleet plan will arrive on schedule. Thai Airways’ 14 February 2024 aircraft-order announcement
Quick Recap
Best Value
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