New Thai Airways International president

BANGKOK, June 18 (TNA) – Thailand’s national flag carrier Thai Airways International (THAI) on Thursday selected former energy minister Piyasvasti Amranand as president of the cash-strapped airline, Chairman Amphol Kitti-amphon announced Thursday.

Following the action of the board, Mr. Amphol said the next step calls for the Ministry of Finance, the major shareholder of THAI to discuss with Mr. Piyasvasti regarding salary and fringe benefits to be offered.

Mr. Amphol said he believed that Mr. Piyasvasti could begin work as THAI’s 15th president in mid-July.

He said there is no conflict of interest with Mr. Piyasvasti being a board member of Bangkok Aviation Fuel despite earlier concern, as oil is not a key business of the national airline.

During the meeting, THAI board also approved a plan to borrow Bt23 billion from financial institutions in the country. The airline is expected to receive it first loan of Bt5 billion from the Government Savings Bank.

THAI share price closed on Thursday at Bt12.80 on the Thai bourse, down Bt0.10 from Wednesday’s closing. (TNA)