BANGKOK (Reuters] – Thai Airways International Pcl is selling 42 planes, and cutting nearly a third its staff as part of a plan for reducing its fleet and costs. The head of its restructuring board said Monday.

Although the airline was struggling long before the outbreak, it is now in bankruptcy protection.

Piyasvasti amranand is the leader of the effort. He stated that the planes being offered for sale are not modern and energy-efficient. He stated that 16 of the jets being leased will be returned.

The airline will now have 58 aircraft across all four types of planes after the sale.

Thai Airways is losing almost $$ every year since 2012.

Piyasvasti stated that the airline would add additional flights, especially to Europe in the coming months as the travel recovery continues.

The Thai government has reopened their country to tourists who are vaccinated on Monday.

Piyasvasti stated that Thai Airways would reduce its workforce from 21300 to 14500 workers by December 2022.

According to him, the airline is set up to sign a credit agreement worth 25 billion Thai baht (7499.18 millions) with financial institutions before next year.

In June, after cutting expenses and a decrease in costs, 11.1 billion baht was booked as a profit. This compares to a loss in June last year of 28.3 billion.

($1 = 33.3700baht).