THAI Labour Union Appeals to Finance Ministry to Probe Carrier’s Operations
19th Apr 2017
In a letter submitted to the Thai Finance Ministry, the Thai Airways International labour union has pointed out that they believe that the carrier’s lack of transparency regarding its operations had resulted in not only financial losses, but also a loss of its corporate image.
Because of this, the THAI labour union has formally requested in its letter (submitted by President Damrong Waiyakanee) that the Financial Ministry conducts an inspection of some of the members of the THAI board of directors and executives of the company.
In the letter, the labour union claims that there are big differences between what the airline’s board of director claims and the reality. One such discrepancy includes THAI’s reported foreign-exchange profits. According to THAI, its FX gains are 685 million baht, but its actual gains are much less and are about 72 million baht. The remaining 613 million baht is an estimate and has yet to occur.
The letter also claims that the sale of 17 aircraft that the THAI board approved resulted in losses of around 30 billion baht between 2008 and 2016, 26 billion baht of which could be attributed to the period between 2013 and 2016.
The union also stated in the letter the belief that the lack of transparency in the nomination process for the THAI president could lead to different conflicts of interest and abuse of power. Additionally, the union said, this could also lead to the position of caretaker president being extended and if that happens, the board would be able to have a lot of sway with the management, further damaging the company.
Finally, the union also addressed the appointment of Charamporn Jotikasthira, former THAI president, as a member of the THAI Strategy and Transformation Committee and an adviser so soon after he retired from his position as president. According to the union, THAI had low operational success during his presidency.
THAI and Royal Navy Partner for U-Tapao MRO Facility
Meanwhile, THAI and the Royal Thai Navy have signed a Memorandum of Understanding (MOU) for the first phase of the Special Eastern Economic Corridor development.
This follows a previous MOU signed with Airbus, in which the French manufacturer offered technical expertise and advice.
In a press release, THAI and the Royal Navy said they agreed to cooperate and exchange information as well as conduct a joint study regarding the development of an Aircraft Maintenance Center & Cargo and Logistic Centre at U-Tapao Airport.