Ex-Thai Airways boss: Ditch all govt shares or risk relapse
Former board member says political meddling threatens progress
A former Thai Airways executive has urged the government to sell its remaining shares, warning that political control could derail the airline’s recovery.
Banyong Pongpanich, a former board member of Thai Airways International (THAI), called on the government to sell its remaining shares in the airline, insisting that only full privatisation can protect the company from sliding back into bureaucratic inefficiency.
Speaking at a public forum hosted by the Thai Journalists Association, Banyong said the airline’s ongoing rehabilitation would be at risk if the government maintains influence over its management.
“In the past, buying a single aircraft required approval from three agencies and could take up to four years. We’d request one model and end up approved for another. These delays were due to outdated state enterprise rules.”
THAI shed its state enterprise status when the Ministry of Finance’s shareholding dropped below 50%. As of March 14, the ministry still held 38.9% of the airline, down from 47.9% in December last year, according to the Stock Exchange of Thailand.
Banyong said THAI’s turnaround was driven by two critical factors: its removal from the state enterprise list, and the appointment of capable executives selected on merit, not loyalty.
“Civil servants don’t have the time or skills to run a business. Political appointments put the organisation at risk. To move forward, Thai Airways must reduce state control and embrace market discipline.”
He suggested the government follow the UK’s model, where the state holds no shares in airlines and allows market forces to regulate performance, reported Bangkok Post.
“This would send a strong signal to other state enterprises and improve fiscal stability by reducing public debt.”
Also speaking at the forum were Piyasvasti Amranand, current board member and former head of THAI’s rehabilitation committee, and Chai Eamsiri, the airline’s current CEO.
Piyasvasti echoed Banyong’s concerns, warning that political interference and unqualified appointments could undo years of progress.
“The real danger is reverting to a bureaucratic mindset. If board members are chosen without merit, we risk falling back into old habits that nearly destroyed the airline.”
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