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.
