Lavaron Sangsnit, Permanent Secretary of the Ministry of Finance and Chairman of the Board of Directors of Thai Airways International Public Company Limited (SET: THAI), revealed that at the January 8 Board of Directors meeting, the appointment of new authorized signatory directors will be considered.
The new arrangement stipulates that Chai Eamsiri, Director (Chief Executive Officer), together with two other directors, will serve as joint authorized signatories, replacing the former set consisting of Piyasvasti Amranand and Chansin Treenuchagron.
Additionally, the meeting’s agenda includes the appointment of four subcommittees: the Executive Committee, Audit Committee, Risk Management Committee, and Nomination and Remuneration Committee. These are to enhance oversight and ensure the company’s business operations are efficient and governed by sound corporate governance principles.
The 15-member Board of Directors of Thai Airways International Public Company Limited for 2025, as approved by the latest Annual General Shareholders’ Meeting, consists of:
- Lavaron Sangsnit, Chairman of the Board
- Chai Eamsiri, Director (CEO)
- Dr. Kulaya Tantitemit, Director
- Chakree Bamrungwong, Director
- Police General Thatchai Pitaneelaboot, Director
- Yanyong Detpiratmongkol, Independent Director
- Sumrid Sumneing, Independent Director
- Charita Leelayudth, Independent Director
- Chananyarak Phetcharat, Independent Director
- Yol Phokasub, Independent Director
- Plakorn Wanglee, Independent Director
- Vachara Tuntariyanond, Independent Director
- Rapee Sucharitakul, Independent Director
- Dr. Veerathai Santiprabhob, Independent Director
- Air Chief Marshal Amnart Jeeramaneemai, Independent Director
Lavaron further commented that, once the new authorized signatory directors are in place, THAI is set to sign a land lease agreement for 210 rai for 50 years with the Eastern Economic Corridor Office (EECO) for the construction of the U-Tapao Maintenance Repair and Overhaul (MRO) center, with an investment value of around THB 10 billion, in the upcoming week.
The MRO project will offer two streams of returns: land lease fees and stepped profit-sharing on revenue. During the first 1–4 years, only land lease fees will be collected, with revenue sharing commencing from year 5 according to the following tiers: years 5–10 at 3%, years 11–15 at 5%, and from year 15 onward at 7%.
Regarding the leasing contract for 10 Boeing 787 aircraft, discussions are ongoing after THAI won the tender from China Airlines. The signing is expected to be completed within this month.
Previously, CEO Chai disclosed that the company has established THAI Maintenance Service as a subsidiary to support the MRO business at U-Tapao Airport. After signing the 50-year, 210-rai land lease at U-Tapao, the company will begin constructing infrastructure, initially building two large hangars, each accommodating three aircraft. Construction is expected to take about three years, with the total MRO area investment at U-Tapao Airport reaching THB 10 billion over the 50-year period.
In the initial phase, the facility will be capable of servicing 90 aircraft annually, targeting Thai airlines and eliminating the need to send aircraft overseas for maintenance. Annual revenues of THB 4–5 billion are expected, with additional hangars to be added as demand increases.
