With Mitr Chaibancha killed in a mishap on the set of 1970's Golden Eagle, a succession of different actors donned the mask of the Red Eagle franchise, and this 1980s incarnation had a heroine. Jarunee Suksawat, the top actress of the era, becomes the vigilante crimefighter Red Eagle. She's supported by the main leading man of the time, Sorapong Chatree.
Here's a snip from the review:
Her basic m.o. seems to be to show up wherever the criminals are and immediately kill all of them. Not that Chaibancha's version of the hero was markedly more noble in his comportment -- if perhaps not as bloodthirsty, he was a terrible philanderer -- but Jarunee really does just seem to be all about the "kill, kill, kill".
Jarunee and Sorapong were back in action in the same movie with 2008's Queens of Langkasuka by Nonzee Nimibutr. Only English-friendly home-video version of that film is bootlegged, sad to say.
Happily, there will be more Red Eagle with Wisit Sasanatieng's reboot of the franchise set for release sometime this year. Hopefully.
Update: See recent comments at Limitless Cinema for details about Jarunee's career implosion.