Nok Airlines Plc, the operator of Nok Air low-cost airline, has appointed Wutthiphum Jurangkool chief executive officer and executive director.
Acting CEO Pravej Ongartsittigul said the board of directors made the decision on Thursday and the appointment took effect on Friday, he added.
Mr Pravej was the acting CEO since August last year. The board also appointed him as chairman of the executive committee starting Friday, he added.
Mr Wutthiphum represents the Jurangkool family, the major shareholders’ group of the airline. He served as director and executive at SE-Education Plc, a publisher and bookstore operator, and Aira Capital Plc, a holding company.
The Civil Aviation Authority of Thailand on Monday renewed the operating licence for the airline for 10 years.
Nok Air chairman Prasert Bunsumpun said the executive appointment and licence renewal would help ensure employees and clients the company could continue its operation.
Nok Air’s board in April has approved the management to seek a 3-billion-baht loan to improve cash flow of the carrier.
The carrier’s losses deepened over the past 18 months — 304.2 million baht in the first quarter of this year from 26.9 million in the same period last year and 2.8 billion baht for all of 2018 compared 1.8 billion in the previous year.
Its major shareholders are the Jurangkool family (67.4%) and flag carrier Thai Airways International Plc (15.9%).
NOK shares climbed 0.04 baht to 2.30 baht at 12pm on Friday in thin trade.