Addendum
Nok Air CEO quits after 11 months
September 1st 2018
Piya Yodmani, who was promoted from deputy CEO to the top job at Bangkok-based Nok Air a year ago, unexpectedly resigned from his positions at the low-cost carrier on August 23. Read More » His acting successor is Pravej Ongarsittigul, a Nok director and chairman of the executive committee at the airline.
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Yodmani, whose resignation takes effect on September 22, appears to be departing on good terms. Nok chairman, Prasert Bunsumpun, said the fifty-five year old had waited until all senior positions at the airline were filled before he submitted his resignation.
Piya succeeded long-serving Patee Sarasin following a period of management upheaval that culminated in a long dispute with the carrier’s pilots. The cockpit protests forced the cancellation of hundreds of Nok Air flights and heavy financial losses for an LCC that already was struggling in the very competitive Asian LCC sector.
In the last 12 months the airline has improved its reputation for chronic delays by delivering an average on time performance of 88%, an improvement that was a key goal of Piya when he took over management of the carrier.
Elsewhere in Thailand, the industry awaits the impact Sumeth Damrongchaitham, the president of Thai Airways International (THAI), on the carrier’s operations and bottom line. Sumeth has a big job ahead of him, especially as he has no airline experience. Before his appointment to head THAI, he was managing director of an asset management firm that was 99.9% owned by the Ministry of Finance. The government department invests and manages state holdings, including government-owned properties, across Thailand. THAI has failed to report annual profits for most of the last decade.
