Lease negotiations with Thai reaching ‘critical phase’: AA4

Negotiations between THAI and one of its lessors Amedeo Air Four Plus (AA4) over the future of four Airbus A350-900s are reaching a “critical phase” as the airline is due to finalise its restructuring plan next month. AA4’s chairman Robin Hallam said in a 15 January filing to the London Stock Exchange that he had hoped the plan could have been submitted in January, but that the complexities of the process in Thailand’s Central Bankruptcy Court caused an extension to be granted. The Thai flag carrier is due to submit its plan by 2 February, having pushed forward the deadline from the first week of January. Its acting president Chansin Treenuchagron said on 5 January that the company is working “diligently” to submit it by that timeframe. In its disclosure, AA4 adds that its asset manager Amedeo has entered discussions with Thai about possibly operating its aircraft on a power-by-the-hour basis, as well as the long-term future of the widebodies with Thai. “While the aircraft are in temporary storage, it would be preferable to see these aircraft fly and earn some income for the company,” it says. “Discussions have also commenced around the potential to keep the company’s aircraft as part of the carrier’s long-term strategic plans. The negotiations remain in progress and further detail will likely be revealed after the carrier submits its restructuring plan to the court.”<br/>