Finance Ministry sent evidence of THAI mismanagement, corruption

[webfact]

Finance Ministry sent evidence of THAI mismanagement, corruption

By The Nation

 

 

A Transport Ministry panel on corruption filed 18 documents of evidence against Thai Airways International (THAI) with the Finance Ministry on Tuesday, pending an investigation into mismanagement of the debt-ridden airline.

 

As a state agency, THAI racked up about Bt250 billion in debts before asking for court-supervised restructuring earlier this year.

 

The Transport Ministry panel found THAI had sold discounted tickets to agents, resulting in losses of billions per year.

 

According to Komkit Wongsomboon, who heads the panel, the corruption involved incentives for ticket-sellers based on the volume of tickets sold rather than their value or resulting sales deficit.

 

More evidence of graft was found in the maintenance department, where the hourly overtime rate of Bt1,500 was inflated to Bt2,000-Bt3,000 for 200 to 300 workers, resulting in losses totalling Bt2 billion a year.

 

The panel also seized on the disastrous decision to buy 10 Airbus 340s for about Bt100 billion from 2004. Rising maintenance costs meant the company lost money on all 10 jets, nine of which lost value after being decommissioned and stored at U-Tapao Airport.

 

Source: https://www.nationthailand.com/news/30393870

 

-- © Copyright The Nation Thailand 2020-09-02

 

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[RichardColeman]

OK, if you can see where it went , get it back. Ensure houses and assets are seized. But they wont, too many connected people

[Poet]

Some countries simply aren't intellectually equipped to have a national airline.

Expect to see THAI snapped up by Ryanair before the end of the year.

 

Edited September 1, 2020 by Poet

[dimitriv]

Maybe they can set up a committee to think about it.

[Bassosa]

This is hopeful. Maybe they'll make an example out of Thai airways and really go after a few key persons.

[scubascuba3]

Report will probably be buried

[Kadilo]

“Thai Finance Minister Predee submits resignation”

 

.........”<deleted> this, I’m off!”

[Grumpy John]

Thailand and corruption.  A country where assumptions become reality!  ????

[colinneil]

WOW, what an amazing revelation corruption at Thai airways, who would ever have thought that.????????

[PatOngo]

3 hours ago, webfact said:

Finance Ministry sent evidence of THAI mismanagement, corruption

First the "Boss" debacle now the "Thai" debacle, I'm almost ready to think corruption is endemic in the whole of Thai society! ????  

[PatOngo]

2 hours ago, Bassosa said:

This is hopeful. Maybe they'll make an example out of Thai airways and really go after a few key persons.

Don't hold your breath waiting!

[ChipButty]

Must be some big fat off shore banks accounts somewhere, follow the money

[scorecard]

3 hours ago, Bassosa said:

This is hopeful. Maybe they'll make an example out of Thai airways and really go after a few key persons.

Nice point but I'm not holding my breath, still a lot of powerful ruthless people in the LOS, many of whom have shared in massive spoils, they will leave no stone unturned to ensure they are never revealed. doesn't cost much to arrange a killing or arrange deadly traffic accidents, to seriously intimidate people.

[Destiny1990]

Isn't that the norm.

[pixelaoffy]

Loss of face ! Funneled billions into the national airline that could and should have been spend in reform as well money for more important investment for its  people ! Miserable failure Thailand 

[pixelaoffy]

19 minutes ago, scorecard said:

Nice point but I'm not holding my breath, still a lot of powerful ruthless people in the LOS, many of whom have shared in massive spoils, they will leave no stone unturned to ensure they are never revealed. doesn't cost much to arrange a killing or arrange deadly traffic accidents, to seriously intimidate people.

Absolutely! Inside and outside of the country people go missing and likely dead!

[overherebc]

4 hours ago, dimitriv said:

Maybe they can set up a committee to think about it.

Last report said they were seriously considering thinking about that.

[ThailandRyan]

1 hour ago, PatOngo said:

First the "Boss" debacle now the "Thai" debacle, I'm almost ready to think corruption is endemic in the whole of Thai society! ????  

Sarcasm at it's finest noted and appreciated. Endemic corruption is just part of the DNA here and is an observed trait that becomes normalized in everyday life.

[tonray]

4 hours ago, dimitriv said:

Maybe they can set up a committee to think about it.

Better yet...let's make O-A Visa holders buy corruption insurance policies...

[ThailandRyan]

17 minutes ago, tonray said:

Better yet...let's make O-A Visa holders buy corruption insurance policies...

Ouch, now that hurt a little bit.

[AbeNormal]

5 hours ago, webfact said:

As a state agency, THAI racked up about Bt250 billion in debts before asking for court-supervised restructuring earlier this year.

how much money did senior executives and board members accumulate over this time

[ThailandRyan]

Never forget the free flights for those in power that bumped fair paying passengers in first class.  I was so disenfranchised and why I stopped flying Thai.

[Poet]

14 minutes ago, ThailandRyan said:

Never forget the free flights for those in power that bumped fair paying passengers in first class.  I was so disenfranchised and why I stopped flying Thai.

When Ryanair take THAI over, instead of giving free first class tickets to the generals and hiso's, they'll only give them to Irish passport holders.

 

Edited September 2, 2020 by Poet

[trainman34014]

Until someone decides to stop moving offenders sideways instead of giving them long Prison sentences along with seizing all their family assets this sort of thing will continue forever.  Not likely to happen though as the head of the fish is as rotten as the rest of the carcass !

[ChrisY1]

"THAI had sold discounted tickets to agents, resulting in losses of billions per year"

Probably going to be the target for major losses, by the sound of this report.

Pointing fingers at the big players in the Thai Airways ongoing scams, likely won't happen as usual and prosecutions will be zero IMO. 

I can imagine there's a huge rug to lift up to make this fiasco disappear.

 

[ben2talk]

2 minutes ago, ChrisY1 said:

I can imagine there's a huge rug to lift up to make this fiasco disappear.

ROFL it's generally pretty transparent - corruption is fine until someone goes out of favour with the richest boss of them all. When he's bored, or someone's just not useful enough anymore, then a good news story uncovers it so that things get shuffled to get more useful people installed.

 

99% of news here's pretty boring - the system is protected fiercely by royalists.

[ChipButty]

40 minutes ago, ThailandRyan said:

Never forget the free flights for those in power that bumped fair paying passengers in first class.  I was so disenfranchised and why I stopped flying Thai.

Not just those in power got free tickets family members like every Tom Dick and Harry could get one

[soi3eddie]

18 minutes ago, ChrisY1 said:

"THAI had sold discounted tickets to agents, resulting in losses of billions per year"

Probably going to be the target for major losses, by the sound of this report.

Pointing fingers at the big players in the Thai Airways ongoing scams, likely won't happen as usual and prosecutions will be zero IMO. 

I can imagine there's a huge rug to lift up to make this fiasco disappear.

 

 

Get rid of the "agents" get a better website, promote that well and sell cheaper tickets online to fill planes. Oh, one problem, no more easy First Class freebies for "well connected or influential" people that way.

 

[overherebc]

29 minutes ago, Poet said:

When Ryanair take THAI over, instead of giving free first class tickets to the generals and hiso's, they'll only give them to Irish passport holders.

 

And you get to keep the spoon supplied for the baked bean trough in the aisle at feeding time.

[soi3eddie]

6 hours ago, webfact said:

More evidence of graft was found in the maintenance department, where the hourly overtime rate of Bt1,500 was inflated to Bt2,000-Bt3,000 for 200 to 300 workers, resulting in losses totalling Bt2 billion a year.

 

I'm not saying "maintenance workers" are blameless but targeting them is a distraction from highlighting more major wrongdoing by the bigger players in the shambles of the company that is (was) Thai Airways.