THAI board approves Nok Air share purchase
Thai Airways International's board of directors today approved the purchase of Nok Air Co Ltd's 10 per cent shares from Krung Thai Bank at the cost of Bt165 million.
The shares, at Bt33 apiece, will increase THAI’s holding from 39 per cent to 49 per cent, in accordance with the national carrier's business plan to have a say in Nok Air's strategic policies, to turn it into a competitive low cost carrier and protecting the market share from other budget and low cost carriers.
THAI President Piyasvasti Amranand is also appointed as a director of Nok Air, as the higher holding increases the airline's director seats in Nok Air from four to five.
