NACC investigate Thaksin over losses at Thai Airways

[webfact]

"Tony" faces an eighth case

Picture: Sanook

 

A probe has been launched into former Thai prime minister Thaksin Shinawatra's decision to approve the purchase of Airbus aircraft worth 53 million baht for national carrier Thai Airways (THAI) nearly two decades ago.

 

The probe also involves the current Industry Minister.

 

The ousted former PM remains abroad and is a fugitive of other charges after being tried in absentia.

 

It is being claimed that the decision to buy the aircraft led to huge losses at the bloated state airline. 

 

Deputy chief of the Office of the National Anti-Corruption Commission (NACC) Niwatchai Kasemmongkhon has initiated a nine member committee.

 

They will examine allegations that Thaksin approved buying many  Airbus A340-500 aircraft between 2002 and 2004, reported Sanook.

 

Niwatchai said this caused great debt at the airline. 

 

Others are also being investigated as part of the decision making including the then transport minister and his deputy, and the THAI chairman and its president according to Sanook and other sources.

 

Up to 75 planes are involved in total. 

 

Then transport minister Suriya Jungrungreangkit is now serving in the Prayuth Chan-ocha goverment as industry minister. He apparently submitted the 53.5 billion baht purchase plan.

 

Another Transport Ministry panel that reported in August and which had looked into alleged corruption at THAI also mentioned the purchase. 

 

Ten aircraft were bought leading to massive losses on more than 50 worldwide routes closting the airline nearly 40 billion baht.

 

Transatlantic flights travelled half empty for years and the planes were in service for 10 years or less thus being non-cost effective. 

 

The aircraft are now up for sale after being decommissioned. 

 

ASEAN NOW notes that using an alias called "Tony Woodsome", Thaksin has been highly vocal and critical of the Prayuth government recently especially in terms of its handling of the pandemic and the resulting diore economic fallout. 

 

The former PM - a divisive yet still popular figure in Thailand who has proved a thorn in the side for Prayuth- faces years in jail if he ever decides to return to Thailand. 

 

Some will see the probe as a political decision aimed at silencing Thaksin but with the industry minister and THAI board members also under suspicion the fallout could be far wider than just Thaksin, notes ASEAN NOW. 

 

-- © Copyright  ASEAN NOW 2021-09-18

 

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[Pravda]

No

[Scrotobike]

He is being investigated by TIT for ........

Fill in the gap

The general and his friends are still very scared of this man

[mahtin]

One of his merry men is also being investigated.

[Robin]

As PM at the time, it would have been reasonable for Taksin to approve a purchase recommended by his transport minister and the board of THAI.  If he had not approved it he could have bee accused of interfering with the running of THAI.

May airlines fly these aircraft profitably on the same routes that THAI did.  The fault is THAI's

Trying to blame Taksin is this junta trying to make trouble and shows they are still afraid of Taksin and his cronies.

THAI has proved over the years it is quite capable of making a loss without any government interference.

[Eric Loh]

Timely diversion for all his incompetency and fading support from the people and his own party. 

 

[smutcakes]

Bit of tit for tat....one day a bit of pressure is put on Prawit about the watches after he must have approved the Thammanat attempt to oust Prayuth.... then Prawits lap dog the NACC has a little squeeze at Suriya.... internal PPRP bickering...

[Mr Meeseeks]

10 minutes ago, Eric Loh said:

Timely diversion for all his incompetency and fading support from the people and his own party. 

 

Correct, and perhaps a retaliatory salvo after Thaksin 'advised' Tammanat back in June.

[Rampant Rabbit]

Another  waste  of  public  money,  just give it  up, nah too  simple  just  love the vindictive  Thai  nature

[ikke1959]

They forget who owns THAI??? so they can not investigate very much for section 112.. Besides that how can you make some responsible for something he approved 18 years ago???? Mismanagement and greed have bankrupted the airline

[tomacht8]

20 Years a go? 

Snail's pace.

Does that even make sense? Wouldn't the case already be statute-barred?

[DaveSamutP]

So funny. They. are. all. corrupt.

 

It is the culture of corruption that they share. 

 

Only difference is who is whose team.

[jacko45k]

Is this perhaps a distraction for more recent, and expensive, failings?

[billd766]

The strange thing is that the A380 Airbus is still in use with 14 airlines in the world and still making a profit.

 

https://en.wikipedia.org/wiki/Airbus_A380#Operators

 

Former operators

 

• Air France operated 10 A380-800s from 2009, and retired them in May 2020 due to the COVID-19 pandemic.^[395][396]
• Hi Fly Malta operated 1 Airbus A380-800 from 2018, and retired it in December 2020 because of the impacts of the COVID-19 pandemic on air travel.^[397]
• Lufthansa operated 14 A380-800s from 2010 and prematurely retired them in September 2021 due to the COVID-19 pandemic.^{[398][399][400]}

^{Thai does not appear on either list}

 

^{https://www.airfleets.net/flottecie/Thai Airways.htm}

 

Thai   currently has 6 A380 Airbus "parked" and they have been for a number of years. They have been for sale for a number of years but nobody wanted tp pay the stupid price that Thai was asking,

 

Thaksin cannot be held responsible for anything that happened since the coup that removed him in 2006/07.

 

If other countries can make their national airlines run at a profit, why can't Thailand?

 

Perhaps because Thai politics and Thai Airways were/are intertwined with politicians with no knowledge of airlines (only reward jobs for their mates) are, and have been running the airline as their private fiefdom.

[khunPer]

3 hours ago, webfact said:

A probe has been launched into former Thai prime minister Thaksin Shinawatra's decision to approve the purchase of Airbus aircraft worth 53 million baht for national carrier Thai Airways (THAI) nearly two decades ago.

You won't get much Airbus aircraft for 53 million baht - $1.7 million - neither now, nor then in 2002-2004; even today a used A340-500 might be priced from $15 million to $20 million.

 

The market price around 2004 was in the area of $200 million for one of these aircrafts - i.e. around 6 billion baht - so they are probably talking about 53 billion baht; I believe THAI bought 10 of them, so that fits quite well if they got some discount.

[Srikcir]

And yet while virtually bankrupt and forced into bankruptcy court for capital stock reorganization by creditors, THAI has announced in July 2021  it wants to buy 20-30 new jet aircraft worth over $3 billion. 

Is that Thaksin's fault too?

Prayut has been PM since 2014, maybe he's should be challenged over the Airway's losses to date and spending sprees such as going into the airline catering business beyond THAI.

[khunPer]

8 minutes ago, billd766 said:

Perhaps because Thai politics and Thai Airways were/are intertwined with politicians with no knowledge of airlines (only reward jobs for their mates) are, and have been running the airline as their private fiefdom.

Most airline gets rid of their 4-engine 340s as they use too much fuel to make a profit. Lufthansa and Air France were the major customers, there were 377 delivered in total to airlines. A340-500 use more fuel per passenger than A330 and B777...????

[Gottfrid]

As soon as they powers that are, sees the face of this man they are so scared that they are breathing out of a tube.

[ukrules]

3 hours ago, ikke1959 said:

They forget who owns THAI??? so they can not investigate very much for section 112.. Besides that how can you make some responsible for something he approved 18 years ago???? Mismanagement and greed have bankrupted the airline

I just looked at the major shareholders list, it's mostly owned by the ministry of finance and a couple of other traded funds.

 

Whoever you think owns it.....doesn't.

[hotchilli]

4 hours ago, webfact said:

A probe has been launched into former Thai prime minister Thaksin Shinawatra's decision to approve the purchase of Airbus aircraft worth 53 million baht for national carrier Thai Airways (THAI) nearly two decades ago.

Good to see NACC doing things in a timely manner.

I'll expect a result of Prawits watch investigation around 2045

[TheFishman1]

I want to know what the government is doing to bring back to Red Bull kid TIT

[pedro01]

Good planes though, made flying to LA quite comfy

[tso310]

Should go back to General Prem and his vanity project of merging Thai International with Thai Airways Corporation, all because he was jealous of Singapore Airlines success. To be fair MAS, Garuda and Philippine have all gone the same way as Thai for similar reasons.

[candide]

Blame it on Thaksin! Lol!

Edited September 18, 2021 by candide

[Dogmatix]

They refused to take action over the report from Rolls Royce that it had paid bribes to a number of named THAI directors over a long period. I can't stand Thaksin or Suriya but this smacks of nonsencical trumped up charges. The management of THAI at the time should take responsibility for its decisions, unless there is evidence that Thaksin pressured them into requesting the planes they didn't want.

[Misty]

5 hours ago, webfact said:

It is being claimed that the decision to buy the aircraft led to huge losses at the bloated state airline. 

I'm no fan of Thaksin's but the bloating problems at THAI predate Thaksin and the period 2002-04. 

[Dogmatix]

39 minutes ago, ukrules said:

I just looked at the major shareholders list, it's mostly owned by the ministry of finance and a couple of other traded funds.

 

Whoever you think owns it.....doesn't.

A big chunk is owned by the Vayapak Fund which is taxpayers' money controlled by the Finance Ministry.

[GrandPapillon]

5 hours ago, Robin said:

As PM at the time, it would have been reasonable for Taksin to approve a purchase recommended by his transport minister and the board of THAI.  If he had not approved it he could have bee accused of interfering with the running of THAI.

May airlines fly these aircraft profitably on the same routes that THAI did.  The fault is THAI's

Trying to blame Taksin is this junta trying to make trouble and shows they are still afraid of Taksin and his cronies.

THAI has proved over the years it is quite capable of making a loss without any government interference.

amen to that,

 

putting all the blame on Thaksin is ridiculous, THAI has a history of making huge losses on its own, poor sales and marketing techniques, and of course the "free ticket" money pit for certain "hiso" individuals

[chessman]

I hear Thaksin is also being investigated for possible military mismanagement in 1766-1767 and thus allowing the Burmese to sack Ayutthaya.

[JustAnotherHun]

Thanks to the gerneral's men. No we finally know who is responsible for the Thai Air mess.