After a record loss in 2009, it now seems Thai Airways is on the rise again buying new aircrafts. The airline uses a relatively old fleet. Thai Airways is controlled by the Government of Thailand. “We need to have new airplanes, if we are to compete,” says CEO Piyasuhsti Amranand, who is also former Minister of Energy in Thailand.

Despite the fact that the state is the main shareholder, the company is listed and recently managed to provide 500 million USD by share sale.

Thai Airways has not yet determined the type of aircraft, but is negotiating with both Airbus and Boeing. The plan is to get 37 new aircrafts. Recently, Thai Airways has made an agreement taking seven 777’s from Boeing, showing that they will seriously focus on intercontinental routes.

“The hope is to reach 105 aircrafts in 2017. Today there are 84 and their average age will drop from 11 to 8 years,” the CEO says.