Union opposes privatising THAI, spinning off units

The THAI union has made clear its stance against privatisation and spinning off potentially profitable units as part of a rescue plan for the ailing national carrier. Union president Nares Peung-yaem Friday said the union was determined to oppose any attempt to end the airline as a state enterprise or to shift away any business units. He made the comment as the union submitted a letter to Prime Minister Prayut Chan-o-cha through Suporn Attawong, an assistant to the PM’s Office minister, at Government House Friday. The move took place on the same day that Gen Prayut held talks with ministers on details of a plan to rescue the financially crippled flag carrier. Deputy PM Anutin Charnveerakul, Transport Minister Saksiam Chidchob and his deputy, Tavorn Saenneam, took part in the talks. Details of the meeting have not been disclosed. The government had said earlier that it did not intend to bring in new private investors or do anything else that would reduce the state shareholding below 51%, the level required to keep its state-enterprise status. It is not clear whether senior political figures still hold this view. The airline’s circumstances have grown even more dire in light of the collapse of travel amid the Covid-19 pandemic. THAI now needs funding just to get it through the next few months as it carries out a rehabilitation plan. That funding, a bridge loan of 54b baht arranged by the Finance Ministry, could come with some very tough conditions. A ministry source said on Wednesday that one of the conditions could include a reduction in the carrier’s headcount by 30-40%. <br/>