The restructuring might affect its fleet and flight schedule, so it needed to talk to Airbus about delivery dates for the A380s due in late 2010, Pichai Chunhavajira, head of a team overseeing a new business plan, told a news conference.
"We are exploring how to delay the delivery. If we could, that would be good. We will also look at flight schedules and routes, which need a review," he added.
Airbus declined to say how talks might go.
"We are in constant talks with our customers, but these talks are confidential and we do not communicate on delivery positions," head Airbus spokesman Stefan Schaffrath said at the plane maker's headquarters in Toulouse, France.
Pichai said the delivery of six A330 aircraft would be on track for this year despite a delay of a few months.
Thai airways has ordered eight A330 aircraft in total. The first delivery is due this month.
Pichai forecast the state-run national carrier would make a net profit of about 6-7 billion baht ($169-197 million; Dh620 million-Dh723 million) in 2009.
It is in the process of overhauling its operations after reporting a record net loss for the fourth quarter of 2008 of 14.8 billion baht and a full-year loss of 21.4 billion.
Thai airways is among several Asian airlines struggling to cope with reduced travel because of the global economic slowdown and a surge in fuel costs last year. It was also hurt by political instability in Thailand that cut tourist numbers.
The 2009 net profit forecast was based on the assumption of earnings before interest, tax, depreciation and amortisation (EBITDA) of 33 billion baht, Pichai said.
"If we follow the plan, we should be able to get 33 billion baht EBITDA and net profit of about 6-7 billion baht," he said.
SHARE PRICE RECOVERY
Thai airways shares have risen nearly 30 per cent over the past month due to optimism over the business plan, which should also improve ticketing systems and cut non-fuel operating costs by 10 per cent this year.
At 0808 GMT on Thursday, the stock was down 1.5 per cent at 9.70 baht after earlier rising 3.6 per cent to a six-month high of 10.20 baht. The overall market was 2.5 per cent higher.
The cash-strapped airline will negotiate with creditors on rescheduling payments on 15 billion baht in debt and it plans to borrow 20 billion baht to boost cash flow, Pichai said. "The repayment period will be extended for another year," he said, adding the negotiations with creditors and talks on new loans would be completed in the next few months.
Under the business plan, which is subject to approval from the government, the airline's debt-to-equity ratio was targeted to be cut to 1.5 from above 3.0 now, Pichai said.
"We are considering several ways to improve operations, which include the possibility of raising capital or converting debt into equity," said Pichai, also chief financial officer of state-controlled energy firm PTT.