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NACC investigate Thaksin over losses at Thai Airways


webfact

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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.

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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...????

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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.

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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. 

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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.

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