25 May, 2020

Board changes at Thai Airways

There have been a number of changes at the top level at the struggling Thai Airways, the company have revealed this week. 

On Monday the firm announced it had replaced four of its board members with former business executives and making a return to the top level was the airline’s former chief executive, Piyasvasti Amranand.

Amranand, held the chief executive position from 2009 and 2012, during which time the airline was a profitable going concern. The news came after the government reduced its stakes in the national carrier last week from 51% to 47.86%, thereby dropping its status a state-owned enterprise. Last week the government approved a restructuring plan to stabilise the carrier through bankruptcy court as it struggles to cope with the travel restrictions and dramatic drop in demand caused by the current pandemic. 

Other board new members are Pailin Chuchottaworn and Boontuck Wangcharoen from the business world, with the fourth being named as Pirapan Salirathavibhaga, an adviser to the Prime Minister Prayuth Chan-ocha.

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