The carrier said the deals, which have been approved by its board of directors, would enable it to grow profits and be among the top three leading airlines in Asia in terms of quality and service efficiency.

The airline plans to buy six Boeing 777-300ER planes, four Airbus A350-900s and five A320-200s for a total of about US$1.6 billion, for delivery between 2014 and 2017.

It will also lease 22 aircraft, including eight Boeing 787 Dreamliners, to be delivered between 2012 and 2017, a company statement said.

The company is bouncing back after a tough spell that saw it sink 21.3 billion baht in the red in 2008 owing to the global financial crisis, high fuel costs and political protests that temporarily shut Bangkok’s airports.

The carrier posted a net profit of 1.6 billion baht in 2010, up more than threefold compared with 2009 as revenue more than doubled.

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