New THAI chief vows turnaround of fortunes
Play
Charamporn Jotikasthira, who took over as president of Thai Airways International yesterday, pledged to restructure the national airline amid the tough global environment and disease outbreaks and restore its rightful membership in the league of leading c
Charamporn, the 17th president of THAI, said he would execute the plan focusing on revamping the business model, work system and strategy to drive the flag carrier forward.
The plan for both the short, or one-year, and up to five-year terms is being proposed to the board of directors. If the board agrees with it this month as scheduled, it will be passed on to the Superboard for approval next month.
“THAI needs a big adjustment like some commercial banks did during 1997-98. The change will help the company to gain strength to beat the aviation industry,” he said.
The airline industry would continue facing tough competition as the economies in Japan, Europe and the United States have not recovered yet as expected.
The spreading of diseases is also always a direct blow to the travel industry.
However, there is more room to grow especially in the region as half of air travel would be within Asia. But since many airlines particularly from the region have ordered 5,000-6,000 planes, it could mean a turbulence is waiting ahead.
Some action plans should start at the beginning of next year so that the airline can turn to growth after losses for four straight years.
“My aim is to bring the airline back to one of the leading airlines in the world like it used to be,” he said.
Charamporn is set to serve for three years at the airline as he will reach the retirement age of 60. The president is normally given a four-year term.
He met with the airline’s executives and asked for cooperation from its 25,000 staff to help get the new plan air bound.
