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A new CEO is appointed by Thai Airways

Chai was selected from a pool of 53 candidates, both internal and external, which included domestic and foreign aviation leaders. The candidate’s potential for leadership was evaluated through psychometric testing during the recruitment process. Additionally, applicants gave presentations to the selection committee in which they shared their goals and objectives for the organization. Chai possesses all of the necessary qualities and skills for the job, including a Master of Business Administration degree from Kasetsart University, an undergraduate degree from Assumption University, and 37 years of experience working in the aviation business in Thailand. Chai is a member of the boards of directors for both THAI Flight Training Co. and Bangkok Aviation Fuel Services. In particular, Chai possesses the financial and accounting expertise necessary to guide the airline’s rehabilitation strategy, including obtaining fresh loans, reorganizing capital, and managing financial discipline. These are all essential components of the plan. He has been indispensable to the implementation of the recovery strategy for the past two years.

The airline posted a profit in the third quarter of 3.9 billion baht (US$110 million), compared to a loss of 5.3 billion baht during the same time period in the previous year. In the third fiscal quarter, the national airline and its subsidiaries brought in revenue that was more than six times higher than the previous year’s total. The reopening of routes that had been closed as a result of the pandemic led to an increase in the number of flights that took place in the first half of the year, which resulted in revenue of 30,9 billion baht from passengers and cargo. THAI’s total assets are now valued at 183 billion baht (US$5.1 billion), which is an increase of 22 billion baht from the beginning of the year. On the other hand, the company’s liabilities have increased to 266 billion baht, which is an increase of 33 billion baht. The cash balance has continuously increased as a result of rapidly expanding ticket sales, going from 6 billion baht (US$170 million) in March to 23.3 billion baht by the end of the third quarter. Chai Eamsiri, previously the company’s CFO, will now serve as CEO of Thai Airways. On February 1st, Chai will begin his new responsibilities in his new capacity.

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