THAI board balks at hefty acquisition plan

The board cited a “fast-changing situation” in asking for a fresh plan within the next six months, THAI president Sumeth Damrongchaitham said.
Board members noted the airline’s poor financial performance and tough competition, coupled with the baht’s appreciation, Sumeth said.
He insisted that THAI must acquire new aircraft, but it would revise the methodology used.
Deputy Transport Minister Thaworn Senniam said the board’s request was not politically motivated or a matter of political interference.