ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintSite TitleTitle ChevronIcon Twitter
Transportation

Thai Airways picks former PTT oil chief as acting president

Chansin becomes third head of ailing carrier since April

Chansin Treenuchagron took over as acting president of Thai Airways International on July 2. (Photo courtesy of Thai Airways)

BANGKOK -- Flag carrier Thai Airways International has installed on Thursday as its new acting president a former head of Thailand's largest energy major, moving to resolve a conflict of interest at the top while the airline operates under a bankruptcy filing.

Chansin Treenuchagron stepped down as president of state-owned oil and gas group PTT in May and joined Thai Airways in June as an independent director.

His predecessor, Chakkrit Parapuntakul, had served as acting president following the resignation of Sumeth Damrongchaitham in April. But Chakkrit also sits on the board of a creditor, Siam Commercial Bank.

Chakkrit, a senior Finance Ministry bureaucrat, will stay on with Thai Airways as a vice chairman.

Thai Airways struggled with earnings long before the novel coronavirus appeared. The pandemic's impact on air travel delivered the final blow, driving the carrier to file for debt rehabilitation at a bankruptcy court in late May.

Chansin takes over in steering the turnaround of the airline, which remains a going concern. The debt and organizational restructuring plan is still in the works, and the proposal will face approval by creditors.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends July 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media