NACC investigate Thaksin over losses at Thai Airways

[Scott Tracy]

5 hours ago, webfact said:

Airbus aircraft worth 53 million baht for national carrier Thai Airways (THAI) nearly two decades ago.

 

5 hours ago, webfact said:

He apparently submitted the 53.5 billion baht purchase plan.

I was wondering...how do you buy a commercial jet for 1.5 million dollars? Then I saw another figure...times 1000, or is it times 1,000,000...?

[worgeordie]

They need to buy a JCB, if they want to dig up other stuff

from way back when.

regards worgeordie

[ikke1959]

1 hour 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.

It is as far as I know common known of the Thai people that HE is the owner of Thai airways... probably not directly in his name, but as you say trade funds or undercover in min of finance

[metisdead]

A post with a link to the Bangkok Post has been removed:

 

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[edwinchester]

The military junta and now the civilian govt have been throwing money into the Thai Airways pit ever since they took power so they are as culpable as anyone for the whole sorry mess and vast losses that are continuing to be racked up.

[ukrules]

57 minutes ago, ikke1959 said:

It is as far as I know common known of the Thai people that HE is the owner of Thai airways... probably not directly in his name, but as you say trade funds or undercover in min of finance

Things change

[herfiehandbag]

3 hours ago, billd766 said:

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

Far be it from me, as a humble infanteer to query one of my "Wedgewood Blue" colleagues in arms on the matter of airplanes, but don't you mean A340s?????????

[biggles45]

So how are they going to find the Current Industry Minister had no guilt in this when he submitted the purchasing plan during Thaksins govt? 

[ikke1959]

1 hour ago, ukrules said:

Things change

Of course surely when they are bankrupted..Before that day they will inform and take over the shares and so he will have no loss...

[billd766]

1 hour ago, herfiehandbag said:

Far be it from me, as a humble infanteer to query one of my "Wedgewood Blue" colleagues in arms on the matter of airplanes, but don't you mean A340s?????????

I was talking about the A380s and never looked at the A340s. 

 

https://www.airfleets.net/flottecie/Thai Airways.htm

 

It seems as though Thai has 13 x A330, all parked,

9 x A340 all stored or scrapped,

12 x A350, 8 active and 4 parked

[candide]

BTW, what happened to the NACC investigation of the Rolls Royce bribe case? ????

[Searat7]

A Middle Eastern sultan (or equivalent) wanted to buy one of the A-340’s about 7 years ago but the offer was rejected- presumably because the plane was on the books for more than the offer so that a loss would have to be realized. There were 10 A340’s but the Thai Air Force took one a few years ago. There is absolutely no market at all for this model plane; they are parked and stored all over the world.

[djayz]

10 hours ago, webfact said:

huge losses at the bloated state airline

Maybe buying new aircraft wasn't/isn't the problem. 

[tso310]

22 minutes ago, djayz said:

Maybe buying new aircraft wasn't/isn't the problem. 

The A380s were ordered for the LHR and FRA routes. Thai was making a killing on them. In between ordering and delivery we saw the rise of the ME3. The problem was Thai didn't know how to respond to them. Also service had gone down. Emirates simply took over Europe to SE Asia with a cheaper and far better product which was exactly how they were promoting themselves. The A345s were pure vanity and with Malaysian they thought they could compete with Singapore on the non-stop to the US. The problem was SIngapore has/had plenty of business traffic to the US. Thai, and Malaysian, didn't and never had. I believe Singapore did manage to break even until the fuel prices rose to became seriously uneconomic for the A. Even Singapore had to eventually give them up.

[Sandy Bottom]

10 hours ago, webfact said:

Up to 75 planes are involved in total. 

From Wikepedia: https://en.wikipedia.org/wiki/Thai_Airways_fleet

 

Math sure is different in Thailand

 

[JonnyF]

NACC what a laugh. National Advancement of Corruption Commission.

 

The whole place is corrupt from top to bottom. Always will be. Totally ingrained over centuries. 

[zzaa09]

Appears that the beloved NACC is quite busy these days....

[natway09]

Although I can see no useful purpose in this inquiry while they are at it how about investigating Thaksin's cronies who supplied fittings for Suvarnabhumi Airport, eg;  the tiles supplied are 

about 50% of the quality as specified & paid for at the higher price

[bangon04]

8 hours ago, khunPer said:

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.

The A340 was probably the least cost-effective plane to operate, and many airlines were already starting to dump them when THAI decided in their wisdom to buy them. So it is logical to assume there was some "incentive" to buy....

[Golden Triangle]

It's 22.50hrs on a Saturday here and I nearly spat my beer all over my tablet when I read that. This is probably the funniest thread on Thaivisa or whatever it's called, next cha cha & his mates will want to implicate him in the death of Diana & the downfall of Trump & uncle Joe's stupidity, just how low can these morons go ? 

[zzaa09]

6 hours ago, edwinchester said:

The military junta and now the civilian govt have been throwing money into the Thai Airways pit ever since they took power so they are as culpable as anyone for the whole sorry mess and vast losses that are continuing to be racked up.

All, which might be a testament and reflection of their business acumen, as Thai Airways [int'l/domestic] has been spiraling outta control for a couple decades - propped up by the usual fanciful practices and underlying corruption. 

[scorecard]

1 hour ago, zzaa09 said:

Appears that the beloved NACC is quite busy these days....

Yes, but when they get some convictions then they can be praised, not before.

Edited September 18, 2021 by scorecard

[DJ54]

Geez and the drum keeps beating ...

[Soikhaonoiken]

Why has it taken so long to launch an investigation... Hmmm,  or a case of let's switch the blame to someone else, and take the heat of the Government for its continued failings... 

[SCOTT FITZGERSLD]

I got an online ad about a new way to become a billionare within few months, involving

investment in crypto.

it is promoted or operated by a billionaire called takhsin,

do you think it it a good investment?

[kiwikeith]

18 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.

Air New Zealand has proven this many time’s, having been bailed out by the government several times.

The management of TA was a main contributor to bankrupting TA, not Thaksin this time.

[RichardColeman]

17 hours ago, tomacht8 said:

20 Years a go? 

Retro 20 year plan

[pomchop]

Investigate the Taksins til u croak but the current ILLEGAL regime is scared to death that IF Taksin returned to Thailand and IF there was a full fair national election Taksin or even his sister would win in a landslide.

 

oh and by the way mr red bull is still living it up after killing a cop while hopped up on drugs, trying to cover it up, paying big bribes to lots of thai officials who are still in the government.  Maybe everyone will forget mr red bull and your corrupt ILLEGAL government if you go after Taksin once again.

[zzaa09]

4 hours ago, Soikhaonoiken said:

Why has it taken so long to launch an investigation... Hmmm,  or a case of let's switch the blame to someone else, and take the heat of the Government for its continued failings... 

The usual distraction and misdirection techniques.

Appears that many fall for it.

[pomchop]

7 hours ago, zzaa09 said:

Appears that the beloved NACC is quite busy these days....

But no time to apprehend mr red bull and jail the entire bunch of govt officials who took bribes to let him get away with killing a cop.