Restructuring plans by Thai Airways means hundreds of job losses for its pilots and a further reduction of its fleet size. Under the carrier’s debt rehabilitation strategy it will ground Airbus A330-300, A380, and Boeing 747 jets.

The airline says 395 pilots will be laid off and no hiring is expected for the next year.

That will take its pilot count down to less than 1,000.

In 2020 the airline said it was auctioning off 34 used aircraft and was leasing out office space to bring in added revenue. It is also negotiating with lessors and suppliers to reduce payments.

Thai was recently granted a second and final extension to submit the complete restructuring plan which is due to be presented to the Central Bankruptcy Court in Bangkok on 3 March.

It needs 50% of creditors’ approval before the Bankruptcy Court can ratify the final plan.

The airline whose debt has not been helped by rumours of corruption over many years, reportedly owes at least THB 233 ($9.89) billion.