This giant of the seas is a monumental €667 million flop despite being the only aircraft carrier in all of Southeast Asia

Built to project power and prestige, this huge ship cost the equivalent of hundreds of millions of euros. Today, its flight deck sits mostly empty, its fighter jets long gone, and its main mission appears less about combat and more about symbolism.

A prestige project born from Thailand’s boom years

The HTMS Chakri Naruebet was ordered in 1992, at the peak of Thailand’s economic “miracle”. Fast growth, rising trade and regional tensions convinced Bangkok that it needed a flagship worthy of bigger navies.

The government turned to Spain’s state-owned shipbuilder Bazán. The design was closely based on the Spanish carrier Príncipe de Asturias, only slightly smaller. The idea was to give Thailand a fully fledged sea-based air arm, something no other Southeast Asian country had.

Cost at the time: just under $300 million. Adjusted for inflation, that is about €667 million today. For a middle-income nation, it was an ambitious – some would say risky – bet.

The Chakri Naruebet was supposed to turn Thailand into a serious naval power. Instead, it became a textbook “white elephant”.

Delivered in 1997, the 183-metre ship arrived with second-hand AV-8S Matador jets, ex-Spanish Harriers capable of vertical take-off and landing. It could also carry anti-submarine and search-and-rescue helicopters, giving it a full spectrum of air operations over the Gulf of Thailand.

On paper, the numbers were impressive: a top speed of around 25.5 knots, range of roughly 13,000 kilometres and accommodation for about 600 crew. For a while, Thailand truly fielded the region’s only operational aircraft carrier.

From symbol of power to expensive problem

The dream met reality almost immediately. Operating a carrier is notoriously expensive even for rich countries. For Thailand, the bills quickly became painful.

Spare parts for the Harrier-style jets were hard to find and expensive. Pilots needed advanced training abroad. Maintenance cycles kept the ship tied up in port for long periods. Defence budgets, already under pressure from domestic needs, simply could not keep up.

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By 2006, Thailand withdrew its AV-8S Matadors from service. Keeping them flying had become unrealistic. Overnight, the Chakri Naruebet lost its fixed-wing air wing. An aircraft carrier without aircraft is, effectively, just a very large helicopter ship with a very large price tag.

Once the Harriers went, the carrier turned from a cutting-edge asset into a floating reminder of overstretched ambition.

The ship still operates helicopters – largely S-70B Seahawk maritime helicopters and older Bell 212s – but its ability to project serious combat power vanished with its jets.

A carrier that rarely leaves the quay

Today, the Chakri Naruebet is based at Sattahip naval base, south-east of Bangkok. Locals know it as an imposing backdrop on the horizon, more landmark than workhorse.

The navy does deploy it for exercises, disaster-relief drills and occasional humanitarian missions. It has helped during floods and regional storms, providing a mobile platform for helicopters and logistics.

Yet most of the time it stays alongside, engines silent. Fuel is costly, so are sea days, and Thailand faces no immediate need to keep a carrier permanently at sea.

Instead, the ship has drifted toward a different role: political theatre and royal protocol. It appears at high-profile naval parades. It hosts foreign delegations. It sails during ceremonies linked to the monarchy. That has earned it a semi-official nickname in some circles: the “royal yacht”, albeit a very militarised one.

Why Thailand keeps a ‘useless’ carrier afloat

Scrapping such a vessel would be politically sensitive. The Chakri Naruebet is tied to national pride, to the image of Thailand as more than just a regional bystander.

In a region where maritime disputes – especially in the South China Sea – remain tense, a carrier still signals status. It says: Thailand can, in theory, carry out complex naval operations and command task groups at sea.

The following elements shape Bangkok’s thinking:

  • Prestige and status: Only Thailand fields an aircraft carrier in Southeast Asia, a point its leaders are reluctant to abandon.
  • Diplomatic value: The ship serves as a high-visibility venue for joint exercises and port calls, useful for signalling alignment or independence.
  • Disaster response: Its large deck and internal spaces can support helicopters, medical teams and relief supplies when typhoons or tsunamis strike.
  • Training platform: Even without jets, the carrier offers real-world experience for deck handling, damage control and complex ship systems.

Critics argue that all those functions could be provided by smaller, cheaper ships. Supporters counter that once you have such a vessel, keeping it alive – at least in a limited role – costs less than building a new flagship from scratch.

Modernisation plans: carrier 2.0 or sunk cost?

Rising tensions at sea have forced Thai planners to ask whether the carrier can be brought back into the front line, in some form.

The F-35 fantasy and its hard maths

One idea sometimes floated in defence circles is to adapt the ship for F-35B stealth jump-jets. On paper, the short take-off variant could use the ski-jump deck. In practice, the obstacles pile up.

An F-35B costs upwards of €80 million per aircraft, before training, support and specialised infrastructure. The carrier would need a major overhaul of its deck, hangars, fuel systems and electronics. The overall bill would dwarf the original cost of the ship.

For a country with no pressing need to field stealth jets at sea, the numbers simply do not work.

Drones, disasters and new missions

More realistic proposals centre on giving the carrier a second life through new roles and technology. Options debated by analysts and naval officers include:

  • Drone carrier: Operating unmanned aerial vehicles for surveillance, anti-submarine patrols and maritime policing over long distances.
  • Command and control hub: Turning the ship into a floating nerve centre for joint operations during crises or large-scale exercises.
  • Dedicated disaster-relief ship: Fitting extra medical facilities, water production and shelter capacity to respond rapidly to cyclones, tsunamis and floods.
  • Naval academy at sea: Using it as a training vessel for future officers, engineers and pilots.

Bangkok has already chosen a partial modernisation path. In late 2025, French defence group Thales was contracted to install a new integrated platform management system onboard. This “brain” will monitor and control propulsion, power generation and safety systems.

The upgrade aims less to turn the carrier into a super weapon and more to keep it functional, safer and easier to maintain for years ahead.

The contract includes training Thai industry to handle maintenance locally, reducing long-term reliance on foreign technicians and cutting some operating costs.

What an ‘aircraft carrier without aircraft’ really means

The Chakri Naruebet highlights a broader dilemma faced by mid-sized powers: owning big-ticket platforms without the ecosystem needed to use them at full capacity.

Carriers need not only planes and pilots. They require escort ships, supply vessels, reliable shipyards, and a steady budget for fuel and training. They also demand a clear doctrine – an agreed view of why the ship exists and how it will be used in war and peace.

Without that surrounding architecture, a carrier risks becoming what naval strategists call a “fleet-in-being”: impressive on paper, rarely risked, rarely deployed.

Main feature HTMS Chakri Naruebet
Length 183 m
Flight deck width 22.5 m
Maximum speed 25.5 knots (about 47 km/h)
Range Approx. 13,000 km
Crew About 600 personnel
Current air group Helicopters only
Former jets AV-8S Matador (withdrawn 2006)

Lessons for future carrier projects

For other countries eyeing shiny carriers, the Thai experience carries a quiet warning. Buying the ship is often the easy part. Funding the aircraft, training, logistics and long-term upgrades is where real costs sit.

Some navies are shifting towards lighter amphibious assault ships and drone motherships instead. These can host helicopters, unmanned systems and marines without requiring expensive jump-jets or huge escorts. They still provide political visibility, but at a lower entry price.

The Chakri Naruebet could move in that direction, especially as drone technology matures. A deck that once launched Harriers could, in a few years, launch swarms of unmanned aircraft patrolling Thailand’s economic zones and sea lanes.

Key terms that shape the debate

Two expressions pop up often when discussing this ship:

  • “White elephant”: In Southeast Asia, this refers to a prized possession that is costly to keep and hard to get rid of. The term fits the carrier’s status as a prestigious but underused asset.
  • “Power projection”: The ability to influence events far from home territory using military force. Carriers are classic tools for power projection, but only if they sail often and carry credible air wings.

For Thailand, the challenge lies in turning a floating symbol into a tool that genuinely matches today’s security needs. That may not require stealth jets or constant deployments. It does require clear choices about what this €667 million giant should actually do every time it leaves Sattahip.

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