Addendum
New THAI leadership under pressure to produce rescue plan by August court deadline
July 1st 2020
The revolving door continued in full swing at Thai Airways International (THAI) last month with the news Chansin Treenuchagron is the new acting president of THAI, a position he took up one month less two days after he joined the carrier as an independent board director in an earlier board clear out. Read More »
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A former president of Thailand’s oil and gas group, PTT Plc, Chansin has his work cut out for him. The board and THAI’s leadership must submit a working draft for the carrier’s rehabilitation to Thailand’s Bankruptcy Court on August 17. The list of debtors is long. It includes debenture holders, banks, lessors, several categories of suppliers and passengers with cancelled tickets.
To assist in the rehabilitation process, Baker and McKenzie have been appointed legal advisors, EY Corporate Advisory Services accountants and Financial Securities Co. as financial consultants.
Chansin succeeds Chakkrit Parapuntakul, who will remain THAI’s second vice chairman.
