A thermal management system for a gas turbine engine and/or an aircraft is provided including a thermal transport bus having a heat exchange fluid flowing therethrough. The thermal management system also includes a plurality of heat source exchangers and at least one heat sink exchanger. The plurality of heat source exchangers and the at least one heat sink exchanger are in thermal communication with the heat exchange fluid in the thermal transport bus. The plurality of heat source exchangers are arranged along the thermal transport bus and configured to transfer heat from one or more accessory systems to the heat exchange fluid, and the at least one heat sink exchanger is located downstream of the plurality of heat source exchangers and configured to remove heat from the heat exchange fluid.