Thai Airways has reportedly grounded its fleet of Boeing B747s, in addition to Airbus A330s and A380s, as part of the airline’s restructuring efforts. 

As a result, the Thai national carrier’s remaining A350, B787, and B777-300ER widebody jets will form the backbone of its fleet.

With the downsizing, Thai Airways also plans to lay off 395 pilots, bringing its cockpit crew numbers to 905, according to The Nation.

Last month, the Star Alliance member announced it would operate a skeleton international network across ten cities until March, owing to depressed demand and uncertainty around travel restrictions.

Following a one month extension, the financially battered airline is expected to file its final restructuring plan to Thailand’s bankruptcy court by March 2. The plan will likely see Thai Airways reduce costs by 35 per cent this year and operate a fleet of 75 or fewer aircraft. 

Additionally, Thailand’s deputy prime minister Supattanapong Punmeechaow said the restructuring could lead to privatisation of the airline, which has long been state-owned.

It currently holds liabilities of 339 billion baht (US$11.3 billion) and 299 billion baht (US$10 billion) in assets, reported the Bangkok Post.