Ultra-low fare newcomer Avatar Airlines has extended a letter of intent to Thai Airways to acquire 10 long-haul Boeing 747-400 aircraft.
“We’ve developed a creative and considerable investment opportunity for Thai Airways to convert some of its unused and off-lease wide-body aircraft and potentially realise a far greater return than if the aircraft were simply liquidated for cash,” said Avatar’s founder and chief executive Barry Michaels.
Due to the nature of the deal, specific terms were not disclosed.
Avatar plans to operate scheduled services between major city pairs throughout the US and Hawaii, with routes including popular domestic vacation destinations and large family-oriented attractions.
“Our offer to Thai Airlines is part of a bigger partnership opportunity that we believe will not only accelerate Avatar’s plans to start flying within 12-18 months,” said Michaels, “but also position Thai Airways for a codeshare entry into the US market and a long-term relationship between our two companies.”
Avatar said it chose to utilise the Queen of the Skies, as it remains highly popular among experienced travellers and offers a roomy cabin built to accommodate as many as 581 comfortable seats.