Global Airport News

Global Airport News

National carrier Thai Airways said on Friday its board had approved a plan to sell up to 1 billion new shares in a public offer, worth roughly USD$765 million at the current market price.

It gave no detail about the offer price in its statement to the stock exchange.

It will offer some of the new shares to the Finance Ministry so the ministry can maintain its stake in the airline at 51 percent.

It also planned to sell up to THB40 billion (USD$1.23 billion) of bonds in the next five years, the statement said.

The airline planned to sell THB11 billion of bonds to refinance debt due in the third quarter, Raj Tanta-Nanta, a vice-president for investor relations said.