THAI workers’ union urges creditors to block appointment of govt execs
Amid fears of political interference, rescheduled creditors’ meeting on Nov 29 to decide fate of proposal
The Thai Airways Workers' Union has called on creditors to vote against the appointment of two executives from the Ministry of Finance and the Ministry of Transport under the rehabilitation plan, fearing political interference.
After the Thai Airways creditors' meeting, a decision was made to postpone the meeting originally scheduled for November 8 to November 29. This postponement was due to a proposal to appoint two additional executives to the rehabilitation plan
A source from Thai Airways International Pcl (THAI) revealed that the workers' union and some creditor groups had expressed their opposition, fearing political interference. They have called on creditors to stand firm and protect their rights at the meeting on November 29, urging them to vote against the proposal to add the two new executives to the rehabilitation plan.
The union and several creditor groups believe this move could involve political interference that might obstruct Thai Airways' rehabilitation plan. They urged all creditors to participate in the meeting, oppose the proposal, and work towards a stronger future for the airline.
The creditors showed solidarity by voting to postpone the November 8 meeting, aiming to protect the rehabilitation plan and ensure Thai Airways could settle its debts according to the plan, thereby restoring confidence among all creditors.
Additionally, they have called on the government and the Ministry of Finance to stop interfering by proposing executives from the ministries of Finance and Transport. Such interference does not aid the airline’s rehabilitation but erodes the trust of creditors, they said.
They requested that the government respect the process and allow Thai Airways to proceed with its rehabilitation independently for the benefit of all parties.
