The board of Thai Airways International is now dominated by business leaders for the first time in the carrier's history. The new board was appointed on 5 October and is tasked with returning the carrier to financial strength and preparing it for a further share sale.
The board has already announced plans for a voluntary separation programme and made executive appointments, though the job of president remains unfilled. The appointment has been postponed from 9 October, and is promised before the end of the year.
Nine of the new directors have backgrounds in business, while five are from the government or air force. Thai's board has traditionally been dominated by government and military officials, but business-minded prime minister Thaksin Shinawatra wants to see the 93% state-owned carrier better run. Since early this year he has been a frequent critic of Thai and its board.
Former finance minister Virabongsa Ramangura is the carrier's new chairman. He formerly acted as executive chairman of a pulp and paper company and is also chairman of highway operator Bangkok Expressway.
Three other directors head local banks while another two are former bank chiefs. Three other non-government directors are also now on the board. New chairman Virabongsa has taken over as acting president pending a formal appointment.
The airline's executive vice-president Tasnai Sudasna Na Ayudhaya, a 33-year Thai veteran, is tipped by local media to be given the post. Tasnai has for months overseen a project favoured by Thaksin that will see most of Thai's loss-making domestic routes handed over to independent Thailand-based carriers.
Former president Bhisit Kuslasayanon, who was only appointed in October last year, was forced to step down early in September when the carrier's 15-member board resigned en masse due to "internal conflicts". It is the second board resignation this year.
Source: Airline Business