Airbus A340-300 (YR-LRE)

Couldn't afford to paint it?

Not high-bypass engines, are they?

Perhaps it is on the way to the paint shop.

It's white because it's a charter jobbie, that is leased out on an "as needs" basis, and is not owned by any particular airline.

Registered in Romania. Most runs between Algiers and Paris. Photo taken in Tenerife South, Canary Islands, Spain.