Thai Airways : Finances Minister wants to decrease state’s stake… or maybe not

Korn, the alleged Finances Minister, in Bangkok Post on february 15:

Korn: Ministry weighs reducing 50.1% stake
Finance Minister Korn Chatikavanij said the ministry was considering allowing private investors to hold a greater stake in THAI to help transform its status as a state enterprise, as well as reduce the government’s financial obligations.

And then Korn, still alleged Finances Minister, in Nation on february 16 :

Finance Minister Korn Chatikavanij said his ministry was ready to contribute more capital to Thai Airways International, to maintain its shareholding at 51 per cent.

I know… everything is perfectly normal. ๐Ÿ˜‰

If you understand a little bit the “thai (air) ways”… then you know very well what happened… It’s very simple actually. Korn has been forced to eat his hat and to change his tune… in less than a day.

It’s enough to read the reaction of the Transport Minister (member of Newin’s gang, ex friends of Thaksin, who were bought by the Democrat Party and the Army in order to nominate Abhisit as Prime Minister in december 2008…) :

Transport Minister Sohpon Zarum on Monday voice opposition to Finance Minister Korn Chatikavanij’s plan to allow private investors larger equity stake in the national airline, Thai Airways International (THAI), which is a state enterprise.

As a national airline, Thai is a vital part of Thailand’s image, and is already listed on the Thai stocks exchange, Sophon said.

Vital part of Thailand’s image ? Ah ah ah. It’s huge.

Thai Airways is vital for all the crooks who use the company as a large honey pot. And they don’t want to share… with other –private- investors.

Korn is a little player… Too young… By advocating what would be actually an excellent idea (to let the private sector managing Thai Airways) Korn has obviously walked onto somebody’s grass… Much more powerful.

Therefore, a pathetic retreat “thai style” was the only way out. ๐Ÿ˜‰

Poor Korn. It’s not because he was given this position that he should forget who are the real masters… His real masters.

In a word, he thought for one moment that he was really the real Finances Minister of Thailand. ๐Ÿ˜‰

Poor Korn.

3 Responses to “Thai Airways : Finances Minister wants to decrease state’s stake… or maybe not”


  1. 1 davidb98 16 February 2010 at 7:26 am

    silly boy

    maybe I should be finance minister… I knew that the military would not want to share their, as you say, “honeypot”

    so, Korn is on the right track but under control of the wrong people, he should join the redshirts and dismantle the military and their hidden mates completely

  2. 2 African Nomad 16 February 2010 at 12:20 pm

    “Royal Thai Airways”

    Perhaps this says it all?

  3. 3 Pricilla 16 February 2010 at 6:29 pm

    Interesting that it takes a western blog to poke fun at this odious example of nepotism, corruption and fiscal stupidity, sure there will not be a peep from the Thai media of course.


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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.


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