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Thai Airways Names Chai Eamsiri as its New CEO

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Thai Airways Names Chai Eamsiri as its New CEO

(CTN News) – Chai Eamsiri, the CFO of Thai Airways, was named CEO. On February 1, Chai Eamsiri will start in his new position.

Chai Eamsiri was selected from 53 internal and external contenders, including local and international aviation leaders.

The hiring procedures included leadership aptitude tests using psychometrics. The applicants also shared with the selection committee their goals for the business.

Chai Eamsiri has all the necessary skills and credentials for the job, including an MBA from Kasetsart University, an undergraduate degree from Assumption University, and 37 years of experience in the Thai aviation sector.

Chai Eamsiri serves on the boards of THAI Flight Training Co. and Bangkok Aviation Fuel Services.

Chai Eamsiri provides, in particular, the accounting and financial expertise needed to guide the airline’s rehabilitation strategy, including obtaining fresh loans, reallocating resources, and maintaining financial discipline.

He has been essential to the two-year rehabilitation strategy. In comparison to a deficit of 5.3 billion baht during the same time last year, the airline achieved a profit of 3.9 billion baht (US$110 million) in Q3.

In Q3, the national airline and its affiliates brought in 32.9 billion baht, more than six times what they did in Q3 of the previous year.

Thanks to more frequent flights in the first half of the year and the restoration of routes that were shut down due to the pandemic, revenue from passengers and cargo reached 30.9 billion baht.

THAI’s total assets are up 22 billion baht from the beginning of the year to 183 billion baht (US$5.1 billion), while its liabilities are up 33 billion baht to 266 billion baht.

The cash balance increased significantly from 6 billion baht (US$170 million) in March to 23.3 billion baht in Q3, thanks to increasing ticket sales.

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