Thai Air plans 11 plane procurements in 2010-2014

BANGKOK, Nov 10 (Reuters) - Thai Airways International THAI.BK plans to lease or buy 11 new passenger planes in 2010-2014 to renew its ageing fleet, an executive said on Tuesday.

"Details are still to be worked out and the plan is likely to be concluded later this month," Vice President Chokchai Panyayong told reporters.

The national carrier has 88 aircraft with an average age of 11.7 years.

Under its renewal programme, it has already ordered 14 planes -- eight A330 and six A380 superjumbos from Airbus (EAD.PA: Quote, Profile, Research).

However, hit by the global financial crisis and the closure of Bangkok airports by political protesters in late 2008, it delayed delivery of some of the aircraft.

It got three of the A330s earlier this year and the other five will be delivered in December and next year.

As for the six A380s, the first three will arrive in 2012 and the other three in 2013.

The flag carrier, in the process of overhauling operations and restructuring management, announced a plan last month to issue new shares in 2010 and is expected to release details near the end of December.

Its shares closed down 1.95 percent at 20.10 baht on Tuesday, when the main index .SETI ended 0.74 percent lower. ($1=33.31 Baht) (Reporting by Manunphattr Dhanananphorn; Writing by Arada Kultawanich; Editing by Alan Raybould)