November 19, 2019, 3:14

Thai Airways chairman resigns as company struggles

Thai Airways chairman resigns as company struggles

Thai Airways has disclosed that its chairman has resigned as the carrier struggles with financial challenges.

The airline said Friday that Ekniti Nitithanprapas resigned as of Nov. 1.

The carrier’s vice chairman, Air Chief Marshal Chaiyapruk Didyasarin, will be acting chairman.

Thai Airways gave no reason for Ekniti’s departure after three of the airline’s executive directors recently quit. The company’s president recent drew criticism for saying the company was in crisis and might have to close if its employees do not cooperate with a rehabilitation plan.

The company reported a nearly 6.7 billion baht ($220 million) net loss in the April-June quarter. It said a slowdown in tourism in Thailand and in the global aviation market were factors behind a 10% decline in revenue from a year earlier. Passenger traffic fell more than 5%.

The airline has been selling decommissioned aircraft to help alleviate its cash crunch.

Sourse: abcnews.go.com

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