Passenger Airlines

Thai Airways International Public Company Limited, or THAI, informed the Stock Exchange of Thailand that the company's board has resolved to suspend Mr. Chai Eamsiri from his duties as Chief Executive Officer during a fact-finding investigation and review of management processes in a crisis, following the floods in late September 2026 that affected the aviation business and the organization's image. The board appointed Mr. Samrit Saniang, a director, to serve as acting Chief Executive Officer, effective from October 2, 2016 onward. The resolution was made at the company's 9/2569 extraordinary board meeting on Friday, October 2, 2016. Mr. Chai posted a clarification on his personal social media that the allegations of corruption in the wine procurement involved careful procedures and regulations that can be examined at any time, and affirmed that throughout 41 years of work he had never been involved in corruption. He also stated that he was already the board member with the weakest financial standing among THAI's board members, and that he welcomed any agency in the country to investigate.

The board of Thai Airways International Public Company Limited, or THAI, has resolved to suspend Chai Eamsiri from his duties as Chief Executive Officer pending a fact-finding investigation and review of crisis management procedures following the floods in late September 2026, which caused labour shortages, a large backlog of unclaimed baggage, flight delays, and the temporary suspension of cargo warehouse services. The board appointed Samrit Samniang, a THAI director, to serve as acting CEO in his place, effective from 2 October 2026 onwards. Parinthorn Kijjathornpitak, Director of Securities Analysis at KGI Securities (Thailand) Public Company Limited, estimates preliminary damage at around 100 to 160 million baht, which will be reflected in fourth-quarter 2026 operating results, but views it as not affecting fundamentals, since it occurred during the high season when advance ticket bookings were growing, particularly on European routes with an 85% passenger load factor. Meanwhile, THAI has raised its oil hedging ratio to 60% over a 24-month period, from 50% over a 12-month period, and maintained its 2026 net profit forecast at 19.5 billion baht, down 36.8% from the previous year, and its 2027 forecast at 23 billion baht, up 17.7% from the previous year. It also maintained its "Buy" recommendation and its 2027 target price of 7 baht.

Thai Airways announced the dismissal of Chai Eamsiri from the position of Chief Executive Officer, or DD, and appointed Somsak Samniang to serve as acting replacement on a temporary basis. Somsak and the core management team have been part of the group driving the rehabilitation process and capital restructuring together with Thai Airways since the beginning, and he previously served as Senior Executive Vice President of the Finance and Accounting Group at PTT Exploration and Production Public Company Limited, or PTTEP, between 2019 and 2024. As for the backlog of unclaimed luggage, the problem has eased considerably, with only about 982 to 1,092 bags remaining, down from more than 10,000 bags as of September 26, 2026, and Thai Airways announced a return to normal service on all flights starting October 3. In the short term, THAI shares remain under pressure from the abrupt management change, operational problems, and selling from creditors' debt-to-equity conversion shares, which have a cost of approximately 2.54 to 4.48 baht. Meanwhile, Kasikorn Securities estimates the SET Index will move within a range of 1,525 to 1,615 points this week, and Asia Plus Securities has set a year-end 2026 target for the SET Index at 1,720 points, recommending CPN, CBG, THAI, BDMS, BBL, COM7, STECON, and GUNKUL.

The board of Thai Airways has announced the removal of Chai Eamsiri from the position of Chief Executive Officer, or DD, and the appointment of Samrit Samniang as acting CEO on a temporary basis. Samrit and his team of key executives have been part of the management group driving the rehabilitation process and capital restructuring alongside Thai Airways from the outset, and he previously served as Senior Executive Vice President of the Finance and Accounting Group at PTT Exploration and Production Public Company Limited, or PTTEP, between 2019 and 2024. As for the backlog of unclaimed luggage, which had accumulated to more than 10,000 bags since September 26, 2026, due to flooding, the situation has now eased considerably, with only about 982 to 1,092 bags remaining, and efforts are underway to return all of them to passengers within today. Meanwhile, Thai Airways has announced normal service on all flights since October 3. In the short term, THAI shares remain under pressure from the news of the abrupt management change and operational problems, as well as profit-taking in shares converted from debt to equity by institutional creditors and cooperatives whose cost was around 2.54 to 4.48 baht, as their lock-up periods gradually expire. For the market outlook this week, October 5 to 9, 2026, Kasikorn Securities expects the SET Index to move within a range of 1,525 to 1,615 points, with first support at 1,550 points, next support at 1,525 points, and resistance at 1,590 and 1,615 points. Asia Plus Securities estimates the SET Index target at the end of 2026 at 1,720 points and recommends stocks expected to benefit from the high season and the low base effect, namely CPN, CBG, THAI, BDMS, BBL, COM7, STECON, and GUNKUL.

The board of Thai Airways has resolved to suspend Chai Eamsiri from his duties as Chief Executive Officer effective 2 October 2026, ahead of his original term ending on 31 January 2027. Chai remains a company director, and the board has appointed Samrit Saniang, a company director, to serve as acting Chief Executive Officer in his place. Asia Plus Securities said the change came after the board resolved to investigate the facts surrounding the flooding in late September 2026 and to review the crisis management process, viewing it as a negative factor that could add uncertainty to the company's strategic direction. Meanwhile, Thai Airways has restored all flights from 3 October after cutting 15 and 9 flights on 1 and 2 October respectively, compared with total Thai Airways flights at Suvarnabhumi averaging about 120 departures per day in August. It views the impact on the fourth quarter of 2026 as still limited. Employee expenses in the first half of 2026 accounted for 12% of OPEX, and every 10% change in employee expenses would change profit by 7%. InnovestX Securities maintained its NEUTRAL rating on THAI with a target price of 6.5 baht, viewing the pre-term management change as a psychological negative and noting that clarity on the management structure and direction is a key issue to watch, after Thai Airways suffered ground service problems, baggage backlogs and flight delays.

The board of Thai Airways International Public Company Limited has ordered the removal of Chai Eamsiri from the chief executive officer's seat, citing the problem of tens of thousands of unclaimed baggage and numerous delayed flights at Suvarnabhumi Airport. Chai worked with Thai Airways for 41 years and had a track record in business rehabilitation that restored the national carrier to strength, but when a manpower crisis arose, he was unable to manage the risk. The root of the problem lies in a strategy of reducing personnel costs during rehabilitation, which relied on outsourcing through Wingspan Services Company to procure and manage ground labor, including baggage handlers, baggage transport staff, and ground support staff. When employees could not come to work because their homes were flooded, the fragility of the system became apparent, and it also affected the reputation of Airports of Thailand Public Company Limited, or AOT, as well as the country's tourism confidence.

Chai Eamsiri, former Chief Executive Officer of Thai Airways, has come out to rebut allegations through his personal Facebook page after the company's board resolved to suspend him from duty on October 2. He stated that the wine procurement case, in which he is accused of bypassing proper channels and handling the matter himself, followed detailed and rigorous procedures in accordance with regulations and can be audited at any time. He affirmed that throughout 41 years of work he has never had any blemish related to corruption and is ready to submit to scrutiny by any agency in the country. He also noted that he was already the authorized-signatory director with the weakest financial standing on the Thai Airways board. He asked that drama or disrespectful remarks not be brought into his space.

Thai Airways International Public Company Limited, or THAI, informed the Stock Exchange of Thailand that an extraordinary meeting of the company's board of directors, the 9/2569 meeting held on 2 October 2569, resolved to suspend Mr. Chai Eiamsiri from his duties as Chief Executive Officer pending a fact-finding investigation and a review of management processes during the crisis, which stemmed from the flooding in late September that affected the airline's business operations and the company's image. The meeting also appointed Mr. Samrit Samniang, a director of the company, to serve as acting Chief Executive Officer, effective from 2 October 2569 onward. The board also approved a change in the list of directors authorized to sign on behalf of the company, from Mr. Chai Eiamsiri and Mr. Samrit Samniang signing jointly and affixing the company seal, to Mr. Samrit Samniang and Mr. Winich Wisetsuwannaphum, with two persons signing jointly and affixing the company seal. The company stated that it will report the results of the investigation to the board as soon as possible and will inform the Stock Exchange of Thailand of further progress or any material conclusions.

The board of directors of Thai Airways International Public Company Limited, or THAI, has resolved to suspend Mr. Chai Eamsiri from his duties as Chief Executive Officer pending a fact-finding investigation and review of management processes during the crisis, and to appoint Mr. Sumrit Saniang, a board director, to serve as Acting Chief Executive Officer in his place, effective from 2 October 2026. Mr. Lavaron Sangsnit, Permanent Secretary of the Ministry of Finance and Chairman of THAI, disclosed after a special meeting of the company's board that the meeting had assessed the situation arising from the flood incident that affected the company's operations, and resolved to suspend the CEO from duty to allow an investigation into the facts surrounding the incident. THAI, as a company listed on the Stock Exchange of Thailand, must first notify the exchange in order to uphold good governance and equal disclosure of information, and therefore could not at that time disclose any details to the public. The company officially reported the board resolution to the Stock Exchange of Thailand the same day and will provide further in-depth clarification on the various issues going forward.

Thai Airways International Public Company Limited, or THAI, informed the Stock Exchange of Thailand that its board of directors has resolved to suspend Mr. Chai Eamsiri from his duties as chief executive officer during a fact-finding investigation and review of management processes in a crisis, effective from 2 October 2026. The board also appointed Mr. Samrit Samniang, a company director, to serve as acting chief executive officer in his place. The company stated that this action is a suspension pending a fact-finding investigation and is not a notification of resignation from the chief executive officer position. The resolution was passed at the 9/2569 extraordinary meeting of the board of directors on 2 October 2026, after the board took note of the flood situation that occurred in late September 2026, which affected the aviation business and the company's image. In addition, the company announced a change in the list of directors authorized to sign on behalf of the company, from Mr. Chai Eamsiri and Mr. Samrit Samniang signing jointly with the company seal, to Mr. Samrit Samniang and Mr. Winit Wisetsuwannaphum signing jointly with the company seal.

Thai Airways International Public Company Limited, or THAI, has resolved to temporarily suspend Mr. Chai Eamsiri from his duties as Chief Executive Officer pending a fact-finding investigation and review of the company's crisis management process, and has appointed Mr. Samrit Sangnueang, a company director, to serve as acting Chief Executive Officer in his place, effective from 2 October 2026. The decision was made at the 9/2569 special meeting of the Board of Directors on 2 October 2026, after the Board took note of the flood events in late September 2026, which affected the aviation business and the company's image. The Board therefore resolved to conduct a fact-finding investigation and review the crisis management process, and to report the results to the Board as soon as possible. In addition, the Board approved a change in the list of directors authorized to sign on behalf of the company under Article 23 of the company's regulations, which requires two directors to sign jointly and affix the company seal. The authorized signatories will change from Mr. Chai Eamsiri and Mr. Samrit Sangnueang to Mr. Samrit Sangnueang and Mr. Winich Wisesuwanphum, who will sign jointly and affix the company seal. Thai Airways stated that it places importance on maintaining the confidence of customers, stakeholders, and the public, as well as the best interests of shareholders as a whole, and that it will inform the Stock Exchange of Thailand of any material progress or conclusions.

The board of Thai Airways International Public Company Limited, or THAI, has resolved to suspend Chief Executive Officer Chai Eamsiri from duty to allow an investigation into the facts surrounding the flooding that disrupted the company's operations. Speaking after the meeting, Chai said the board had reported and summarised the situation, and that he, having not taken part in the deliberation, was informed of the resolution afterwards. He said he had not yet received clear details about the scope or the issues to be examined, though he understood the review might concern the causes of the incident's wide-ranging impact, as well as why the company could not reduce the impact or end the service disruption sooner. Chai acknowledged that as the organisation's top executive he bears responsibility for its operations, and said he believed the board may have weighed the impact on the company's reputation and on passengers, even though management had rushed to fix the situation and it was now close to returning to normal. He stressed that the board's resolution was a suspension from duty, not a dismissal, and that he had not been notified of any termination of his employment with the company. On the service front, the company expects to restore its full normal flight schedule the following day. Efforts to clear the backlog of baggage have drawn personnel from several units, and the number of call centre lines has been increased from 2 to 24. The backlog of baggage that can be returned directly is expected to be almost entirely cleared within one to two days, while baggage requiring onward delivery to other countries may take roughly two to three more days, with an estimated 98 to 99 percent of the backlog handled in that period.

The board of Thai Airways has resolved to remove Chai Eamsiri from the position of chief executive officer, effective immediately, and to appoint board member Samrit Saniang as acting chief executive officer in his place. The change comes amid a crisis of confidence among both Thai and international passengers, after flooding and heavy rain in Bangkok and its surrounding provinces between September 26 and 28, 2026, left several thousand pieces of baggage stranded and forced repeated flight reductions and cancellations. The pressure dragged THAI shares down from 6.15 baht to a low of 5.60 baht today, October 2, before recovering to trade at 5.75 baht, up 0.10 baht, or 1.77 percent, at around 3:24 p.m.

The board of Thai Airways International Public Company Limited, or THAI, passed a resolution at a special board meeting suspending Chai Eamsiri from his position as chief executive officer. The meeting, chaired by Lavaron Sangsnit, permanent secretary of the Ministry of Finance and chairman of the company's board, appointed Samrit Samniang, one of THAI's directors, as acting CEO in his place. The suspension follows problems at Suvarnabhumi Airport involving delayed flights and large numbers of unclaimed baggage. Chai stated that he will remain a company director until his employment contract expires on January 31, 2027. Chai Eamsiri officially began serving as chief executive officer of THAI on February 1, 2023, and in April 2025 he was also appointed a director of the company, holding three key positions at THAI: director, secretary to the board, and chief executive officer.

The board of Thai Airways International [THAI] has resolved to remove Chai Eamsiri from the position of chief executive officer, effective immediately, and has appointed Samrit Sangniam, a THAI board member, as acting chief executive officer in his place. The change in the airline's top management comes amid a crisis over the carrier's backlog of unrefunded tickets.

The Board of Directors of Thai Airways International Public Company Limited, or THAI, has resolved to suspend Mr. Chai Eamsiri, Chief Executive Officer, or CEO. The meeting also appointed Mr. Samrit Sangnian, a director and executive director, as acting Chief Executive Officer of THAI in his place. The suspension follows earlier news reports.

KGI Securities estimates that the cancellation of both domestic and international flights, along with baggage handling problems at Suvarnabhumi Airport starting September 28, 2026, will affect the operating results of Thai Airways International Public Company Limited, or THAI, by approximately 89-162 million baht. This stems from compensation and care expenses for passengers, lost revenue from cancelled flights, and fines and administrative penalties. Part of the impact will be offset by variable cost savings from the reduced number of flights. KGI expects the impact to be recognised in the fourth-quarter 2026 financial statements and to reduce its 2026 forecast profit by about 0.5-0.8%, which it views as a short-term effect. For the current situation, KGI notes that THAI has been able to clear the backlog of about 3,000-4,000 pieces of baggage per day and no longer has problems with newly arriving baggage, reflecting that the situation is beginning to ease. KGI therefore maintains its positive view on THAI's long-term earnings outlook, keeping its buy recommendation and a 2027 target price of 7.00 baht, based on an EV/EBITDA valuation of 6 times, or roughly plus 1.5 standard deviations.

Shares of Thai Airways International, or THAI, rebounded 1.77%, or 0.10 baht, to 5.75 baht on trading value of 192 million baht, after falling for four consecutive trading days, amid reports that CEO Chai Eamsiri is set to be removed over poor management. Today, Lavaron Sangsnit, permanent secretary of the Finance Ministry and chairman of THAI's board, called a special board meeting to monitor the situation regarding passenger services at Suvarnabhumi Airport after the airline faced problems with delayed flights and a large number of unclaimed baggage. The agenda is expected to include the appointment of a committee to investigate Chai Eamsiri, amid reports that he will be removed from his post before his employment contract expires on January 31, 2027.

The remaining six members of the National Broadcasting and Telecommunications Commission, or NBTC, have called a special meeting to speed through more than 200 accumulated pending agenda items. Pirongrong Ramasoota and Supachai Supachalasai are leading the group of NBTC commissioners in convening the meeting, and they have asked that an administrative order from the NBTC selection committee, which instructed Dr. Sarana Boonbaichaiyapruck to cease performing his duties as NBTC chairman, be brought into the deliberations. Meanwhile, the board of Thai Airways, or THAI, is holding a special meeting chaired by Lavaron Sangsnit, permanent secretary of the Ministry of Finance and chairman of the board, to follow up on progress in resolving the problem of unclaimed baggage at Suvarnabhumi Airport. Reports say the board will consider suspending Chai Eamsiri, THAI's chief executive officer, and appointing board member Samrit Saniang as acting CEO in his place. On the northern water situation, the Royal Irrigation Department reports that water levels have begun to fall, but the Chao Phraya Dam still needs to increase its discharge, because although water at some upstream points has declined, the water that flowed down earlier is still gradually reaching the dam, and water continues to accumulate above it. The Meteorological Department warns that from October 4 to 7 many areas should prepare for heavy to very heavy rain, with the very heavy rain on October 5 centered on Kamphaeng Phet, Phitsanulok, Phichit, Phetchabun, Nakhon Sawan, Uthai Thani, Chai Nat, Sing Buri, Ang Thong and Ayutthaya, and on October 6 on Kanchanaburi and Ratchaburi. Meanwhile, the Department of Disaster Prevention and Mitigation reports that flooding situations persist in 31 provinces, and Bangkok opens its online registration system for flood relief today.

Thai Airways International Public Company Limited, or THAI, is accelerating flight management and mobilizing resources from all sectors to prepare to restore full passenger service on all flights by October 3, 2026, after previously reducing flights to align with its operational capacity. On October 1, 2026, it cut 15 flights, and on October 2, 2026, it cut another 9 flights, totaling 24 flights over the two days. To assist passengers, Thai Airways will open its ticketing office at its headquarters on Vibhavadi Rangsit Road on Saturday, October 3, and Sunday, October 4, 2026, from 08:00 to 17:00, to add service channels and help passengers during the return to normal service. On the same day, the Thai Airways board of directors is scheduled to hold a special meeting, and the market will be watching for the guidelines the board sets to improve flight management and service, as well as measures to prevent operational problems from affecting passengers again.

The Board of Directors of Thai Airways International Public Company Limited, or THAI, will hold a special meeting on October 2, 2026, to monitor the passenger service situation following ground-handling problems at Suvarnabhumi Airport that caused flight delays and a large backlog of baggage. The board will review progress in resolving the flight and baggage issues and will put in place support and prevention measures to keep the problems from recurring. The disruption comes amid a shortage of ground service staff, compounded by the impact of heavy rain and flooding in the Bangkok area. Thai Airways reduced some flights on October 1 and 2, 2026, by 15 flights and 9 flights respectively, and plans to restore full service across all flights from October 3, 2026 onward. Meanwhile, the Chairman of Thai Airways confirmed that the removal of Chai Eamsiri, Chief Executive Officer of Thai Airways, was not under consideration at this meeting.

Chalida Leelayuth, a board member of Thai Airways International, or THAI, disclosed that the company's board will hold a special meeting this morning, chaired by Lavaron Sangsnit, permanent secretary of the Ministry of Finance and chairman of the board, to monitor progress in resolving the problems of unclaimed baggage and cargo backlogged at Suvarnabhumi Airport's cargo terminal. Meanwhile, reports say the meeting will consider suspending Chai Eamsiri, chief executive officer of THAI, because the incident has caused widespread damage and could affect Thailand's image, and will push for Samrit Saniang, a company director, to serve as acting chief executive officer in his place.

The board of Thai Airways International Public Company Limited, or THAI, will hold a special meeting today, 2 October 2026, at 10:00 a.m. to assess the operational situation following delays in baggage handling and the suspension of some flights caused by flooding in Bangkok and surrounding areas. The meeting will closely monitor service conditions, including flights, the management of backlogged baggage, and efforts to restore operations to normal. A key point to watch is reports that the meeting may take up the widespread service failures that have damaged the business, the company's image, and business opportunities, as well as the future of CEO Chai Eamsiri. It is expected that the board may consider suspending Chai and appointing a committee to investigate the facts surrounding the incident and the management and crisis-control failures of the top executive. If a suspension order is issued, the meeting may consider appointing Samrit Saniang as interim CEO of THAI to ensure management continues without interruption.

Thai Airways International Public Company Limited, or THAI, announced that the company is accelerating flight management and mobilising resources from all sectors to prepare for operating all flights according to schedule on 3 October 2026. On 1 and 2 October 2026, the company reduced flights by 15 and 9 respectively to align with operational capacity during that period. At the same time, Thai Airways will open its ticket office at its headquarters on Vibhavadi Rangsit Road on Saturday 3 October and Sunday 4 October 2026 from 08:00 to 17:00 to add service channels and facilitate passengers. Thai Airways stated that it thanks passengers for their understanding and cooperation in the situation, and apologises for the inconvenience caused. The company will review the experience from this incident and improve its management approach to help reduce the impact on passengers and prevent similar situations in the future.