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THAI chairman steps down

THAILAND: Ekniti Nitithanprapas has resigned as chairman of Thai Airways International as it struggles with financial challenges and the transport minister’s push to replace directors at state enterprises.

transport
By Bangkok Post

Saturday 2 November 2019, 04:52PM


THAI gave no reason for Mr Ekniti’s departure, which came after three of the airline’s executive directors recently quit. Photo: Bangkok Post

THAI gave no reason for Mr Ekniti’s departure, which came after three of the airline’s executive directors recently quit. Photo: Bangkok Post

The resignation took effect on yesterday (Nov 1), the national carrier said in a brief statement to the Stock Exchange of Thailand last night after the market closed. Air Chief Marshal Chaiyapruk Didyasarin, currently vice-chairman, will serve as acting chairman.

THAI gave no reason for Mr Ekniti’s departure, which came after three of the airline’s executive directors recently quit. President Sumeth Damrongchaitham recently drew criticism for saying the company was in crisis and might have to close if its employees do not cooperate with a rehabilitation plan.

Mr Sumeth said later that his remarks had been “misinterpreted” and the airline was not at risk of shutting down.

THAI reported a net loss of nearly B6.7 billion in the second quarter of this year. It has not yet reported its third-quarter results.

The carrier said a slowdown in tourism in Thailand and in the global aviation market were factors behind a 10% decline in revenue from a year earlier.

Transport Minister Saksayam Chidchob has been pushing for directors at the 15 state enterprises under the ministry to resign ever since he was appointed to the cabinet in June.

They should “show their spirit” by stepping aside since they were appointed by politicians of the past, he has said.

Read the original story here.

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Kurt | 06 November 2019 - 08:28:59

Dek, don't nibble about a airline name name or nationality of a foreign CEO.
One thing is clear in your writing, with a local airline pilot as CEO that airline is now struggling again. Pity, not to have a professional CEO. Seems struggling since, as you wrote. Running a airline is not running a drug store. Thanks for update anyway.

Kurt | 05 November 2019 - 23:39:16

Let's face it. There is no acceptable reason why THAI is doing so bad (sinking deep in debt), while other asian- and middle east airlines doing so well ( making a lot of profits), as all fishing in the same pond.
THAI needs fast a cleaning up more international thinking/mentality. Thai.."this is the way we do it".. , is international wise not working. Why they refuse to understand t...

DeKaaskopp | 05 November 2019 - 22:12:51

@Kurt. FYI.In case you don't know it's 2019 ! MAS changed to MAB in 2015. The German CEO worked only from 2015 until 2016 for them.Less than 1 year,followed by an Irish CEO for another year.Since then a former local pilot from that airline is the new CEO.The airline is still struggling.Seems like you are lacking a lot of knowledge again.

Kurt | 05 November 2019 - 08:53:18

Replacement by other 'friends'/old class mate? Than nothing will change for the better.  Or is commence coming above the surface and have a foreign CEO to start to clean up/save  
THAI , and kick all the 'dead wood' out, also including trimming among the 20,000 staff  instead.  In Malaysia (MAS) that formule works with a german CEO.

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