BANGKOK, Nov 13 — The executive board of the Thai Airways International (THAI) approved the appointment of Charamporn Jotikasthira as the new THAI president while asserting that the airline’s financial status is strong enough for it to maintain its business.
The appointment was among resolutions in the THAI board meeting yesterday.
The board’s selection committee unanimously nominated Mr Charamporn to the board.
His remuneration and contract have yet to be concluded and proposed to the board for its approval later.
The board noted in its meeting that on Sept 30, 2014, THAI and its subsidiaries had net assets worth Bt47 billion and from 2012 to 2018 THAI is investing considerably in aircraft and other assets.
The board was also informed that pending the recovery of the global economy, aviation businesses face fierce competition and THAI has not performed as expected.
However, THAI has managed its finance and liquidity carefully and its cash is sufficient for it to proceed with normal business.
The airline plans to acquire long-term finance next year to serve its capital demands.
The success of the financial plan will depend on its effective implementation and airline reform that convinces investors and financial institutions.