No plan to revert THAI to state-owned enterprise: Finance Ministry
Ministry dismisses allegations regarding proposal to add two more executives to THAI business rehabilitation plan
While concerns about potential political interference have been voiced, the Finance Ministry has categorically dismissed allegations regarding the proposal to add two more executives to the Thai Airways International Pcl business rehabilitation plan, a ministry source said.
The source firmly asserted that this move is solely intended to facilitate a seamless transition as the airline gears up to exit the rehabilitation process and re-list on the stock market. There is no intention to revert Thai Airways to a state-owned enterprise.
This week, the source informed the Thansettakij news outlet that the Ministry of Finance has suggested an amendment to the rehabilitation plan to include Panya Chupanich, director of the Office of Transport and Traffic Policy and Planning, and Polchak Nimwatana, deputy director of the State Enterprise Policy Office (SEPO), as new administrators of the recovery plan.
This decision aligns with the ministry's policy as proposed by the Public Debt Management Office. The source clarified that the expansion of management for the recovery plan should not raise concerns regarding political interference; it is simply an administrative enhancement, as the existing three managers are deemed insufficient for the upcoming restructuring phase.
With Thai Airways expected to emerge from the rehabilitation plan by February-March 2025, the addition of executives is seen as crucial for managing securities and related operations.
While there have been labour disputes, the ministry emphasised careful planning and clear communication regarding the proposal.
Tibordee Wattanakul, director of SEPO, reiterated that Deputy Prime Minister and Finance Minister Pichai Chunhavajira does not wish for Thai Airways to revert to state ownership, because of regulatory burdens that could hinder operations.
After the recovery, the Ministry of Finance will retain a 40% stake in the airline without exerting state-enterprise control, similar to its holdings in TMB Thanachart Bank and Siam Commercial Bank. The airline is anticipated to resume trading on the stock market between May and June 2025, reaffirming no plans for a return to state ownership.
