After reporting a net loss of nearly 3.4 billion baht on revenue in Q1, cash-strapped Thai Airways are continuing their online yard sale in a bid to make some extra money. This time, the airline is auctioning off an entire Boeing 737-400 airframe via Facebook Live on their page TG Warehouse Sale this Wednesday, May 25, at 3pm.
A TG Warehouse Sale Facebook post reads…
“One & Only: Now is your opportunity to own an aircraft with a long history from Thai Airways. We invite business owners or anyone interested to bid on a B737-400 Airframe. You could convert it into an aeroplane cafe to attract customers or set it up in a cool resort. We will auction it off at a price up to you. See you on May 25 at 3pm, on our Facebook page only.”
Since the Bankruptcy Court approved a debt restructuring plan for Thai Airways in 2020, the airline has shown its entrepreneurial spirit through several cash-generating ventures. In the height of the pandemic, when air travel drew to a halt, the airline set up a pop-up restaurant serving aeroplane food for aviation lovers who missed the taste of an in-flight meal.
Then, Thai Airways set up their “car boot” style Facebook page – TG Warehouse Sale – “to strengthen the financial strength of the national airline.” The shop sells a range of in-flight items such as cutlery, earplugs, napkins, rubber gloves, jugs and bags.
In March, Thai Airways held an auction via Facebook Live in which they sold brightly coloured aeroplane seats for 35,000 baht per pair. The seats sold out in 1 minute, generating a profit of over 1 million Thai baht for the airline.
Although Thai Airways declared a loss of revenue in Q1 of this year, the airline didn’t lose as much money as it did in the same period last year, so it’s not all bad news for Thailand’s flag carrier.
Thai Airways is confident that it will prosper once again and begin to deliver a reliable profit once fuel costs go down and international travel bounces back to pre-pandemic levels.
SOURCE: TG Warehouse Sale