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Rehabilitation of Thai Airways triggers corruption allegations

The coronavirus crisis is likely to have exposed Thailand’s national carrier’s underlying corporate culture of corruption and financial mismanagement.

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Former international crime prosecutor, Mr. Wanchai Roujanavong predicted in a Facebook post that many corruption cases will emerge as a result of THAI’s rehabilitation process.

He claimed that the airline’s fleet was leased to THAI through several agents, allegedly with the consent of the airline’s board, leading to prohibitively high fees for the rental of aircraft, which is said to be one of the causes of the airline’s heavy losses.

Without the proposed rehabilitation plan, the former chief prosecutor said that that the public would probably never know the truth “while the parasites carried on sucking the blood out of the airline.”

Discrepancies in THAI ticket sales

In related news by the Bangkok Post, police have launched an investigation into allegations of discrepancies in THAI ticket sales last year, according to an unnamed source.

A team led by Pol Lt Gen Charnthep Sesaves, a former Metropolitan Police Bureau commissioner, has opened a probe into any possible graft that may have been committed at THAI.

A source at the Transport Ministry said that last year, ticket sales and freight revenues totalled 140 billion baht and there were 25.4 million passengers who flew with THAI, the source said.

The average fare per passenger was 6,081 baht, which was significantly lower and not consistent with the rates charged to customers, the source said.

“THAI’s revenue last year slumped from the previous year, which raises questions, given a higher average cabin factor [than the previous year] at 80%,” the source said.

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True and Dtac Merger Talks Highlight Necessity of Scale at Thai Telcos

The merger between True Corporation, a subsidiary of conglomerate Charoen Pokphand Group, and Total Access Communication (Dtac), a subsidiary of Norway’s Telenor would shrink the number of big telcos players in Thailand to only two.

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The discussion between Norway telecom group, Telenor ASA, and Thailand’s largest conglomerate, Chareon Pokphand Group (CP Group), to explore a merger of their telecom businesses in Thailand underscores the significance of scale to drive cost efficiencies amid the Thai telecom sector’s slow growth and high investment, says Fitch Ratings.

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Exclusive interview with Kulpreeya Buddharudisuk

Kulpreeya Buddharudisuk is a seasoned leader who joined Zoetis over seven years ago to lead the regional finance function for Southeast Asia, eventually leading all Asia Pacific countries. In this role, she successfully led multicultural, geographically diverse teams through a transformative time in the business. 

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Kulpreeya Buddharudisuk is a seasoned leader who joined Zoetis over seven years ago to lead the regional finance function for Southeast Asia, eventually leading all Asia Pacific countries. In this role, she successfully led multicultural, geographically diverse teams through a transformative time in the business. 

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