Thai Airways International (TG, Bangkok Suvarnabhumi) plans to expand its 11-member board of directors to at least 15, chairman Lavaron Sangsnit told local media. He said the additional members would enable the formation of a risk management committee, which is essential for an organisation of Thai Airways' scale.

The airline currently operates only two board committees - audit, and nomination and remuneration - as required by the Stock Exchange of Thailand. Lavaron explained that under corporate governance rules, directors cannot serve on multiple committees, while the chairman also refrains from doing so. This leaves too few members to establish additional oversight bodies.

Lavaron, who also serves as permanent secretary of the ministry of finance, said Thai Airways is accepting nominations for new directors ahead of the company's annual general meeting with shareholders in December.

The selection committee is expected to endorse eight qualified candidates by October 19, comprising four replacements for outgoing directors and four new appointees. The list will first be reviewed by the Thai Airways board on October 23 before being submitted for shareholder approval.

“Thai Airways must have a professional board of directors, and we affirm that all the nominees we have proposed are top-tier and highly professional,” Lavaron said, as quoted by local media. He stressed that the selection process is transparent and that the airline will remain a listed company rather than a state-owned enterprise.

The ministry of finance remains Thai Airways' largest shareholder, with a 38.9% stake. The carrier lost its state enterprise status during its four-year business rehabilitation when government holdings fell below the required 51%.

Further, Lavaron rejected speculation of political interference, saying, “As long as I remain chairman, there will be no corruption - everything must be transparent in every aspect.”

The next board meeting on October 23 will also consider management's proposal to lease eight to ten additional widebody aircraft, reportedly to replace nine units whose leases recently expired.