Cabinet to be asked to let Finance Ministry proceed with THAI rehabilitation

Deputy Prime Minister Wissanu Krea-ngarm will propose to the Cabinet on Tuesday an amendment to its May 19th resolution, to replace the Transport Ministry with the Finance Ministry as the sole authority to craft and administer the rehabilitation plan for beleaguered Thai Airways International.

Dr. Wissanu’s agreement to act as the middleman between the Transport and Finance ministries followed a meeting today (Monday), between Transport Minister Saksayam Chidchob, Finance Minister Uttama Savanayana and Dr. Wissanu, over who should be responsible for the rehabilitation plan.

Mr. Saksayam said that Dr. Wissanu told them that he is relieved that the issue can be resolved amicably, adding that the Transport Ministry has never been in conflict with the Finance Ministry over the plan.

The Cabinet has already agreed to let the ailing airline, which has accumulated more than 200 billion baht in debts, to enter a court-sanctioned rehabilitation process, under the protection of the Thai Bankruptcy Act.

Meanwhile, the THAI board today agreed to appoint four replacement directors. The new appointees are Mr. Phiraphan Saleeratthavipark, Mr. Boonthak Wangcharoen, Mr. Pairin Chuchotethavorn and Mr. Piyasawat Amranan, who will replace Mr. Pitiphan Theppatimakorn, Mr. Phinit Puaphan, Mrs. Prathana Mongkolkul and Ms. Sirikul Laopaikul.

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