Thai Airways president to resign for health reasons

National carrier Thai Airways International Pcl President Sorachak Kasemsuwan will resign for healh reasons, effective early January, Chairman Ampon Kittiampon said on Friday, Dec 20, 2013. -- ST FILE PHOTO: ALPHONSUS CHERN
National carrier Thai Airways International Pcl President Sorachak Kasemsuwan will resign for healh reasons, effective early January, Chairman Ampon Kittiampon said on Friday, Dec 20, 2013. -- ST FILE PHOTO: ALPHONSUS CHERN

BANGKOK (REUTERS) - National carrier Thai Airways International Pcl President Sorachak Kasemsuwan will resign for healh reasons, effective early January, Chairman Ampon Kittiampon said on Friday.

"He has submitted the resignation letter on Dec 17 because of health reasons. It will be effective 15 days after the submission," Mr Ampon told Reuters.

Mr Sorachak was appointed president in October 2012.

In the latest July-September quarter, Thai Airways posted a heavy net loss for the second consecutive quarter, hit by a lower passenger yield, fierce competition and foreign exchange losses.

Facing regional competition from bigger rivals such as Singapore Airlines and Cathay Pacific Airways, it cut its 2013 revenue and profit growth target due to a weak performace earlier this year.