Suvadhana Sibunruang will replace the outgoing CEO’s position until September 2021. No further details about his role have been revealed yet.
On Wednesday (16 June), Thai Airways International announced that its acting CEO, Chansin Treenuchagron, had resigned from his post. The airline’s chief of human resources, Suvadhana Sibunruang, will be taking over the reins as acting CEO.
Based on Bangkok Post’s report, Suvadhana’s role will begin effective immediately, and will continue until September 2021. Full details about his role haven’t been revealed yet.
This announcement came after the Central Bankruptcy Court on Tuesday (15 June) accepted the airline's rehabilitation plan to restructure 245bn baht of debt through payment extensions, interest waivers and debt-to-equity conversions.
It was reported, by Aerotime Hub, that in 2020, amidst the pandemic, Thai Airways International suffered a record loss of 141bn baht. Similar trends were seen in previous years.
In 2019, the airline incurred losses worth up to 12bn baht; in 2018, 11.6 bn baht, and in 2017, 2.1bn baht.
Chansin was only appointed as acting CEO of the aviation company in July last year. According to Reuters, post this resignation, he will continue to play the role of an administrator for Thai Airways International’s business rehabilitation plan.
In the meantime, as reported by Bangkok Post, board chairman Chaipruk Didyasarin, and two other board members, Chakkrit Parapuntakul and Boontuck Wungchareon, resigned as well.