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Thai Airways considering stake in Thai AirAsia
Friday, 21 Feb, 2016
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Executives at flag carrier Thai Airways will meet with their counterparts at Asia Aviation (AAV) which operates Thai AirAsia, this week about a possible share purchase.
It comes after deputy Prime Minister Somkid Jatusripitak urged Thai Airways to consider buying a 20% stake in Asia Aviation.
"I am open to discuss. However, I have to take a look at the detail of the deal first. It’s not only about a share sale but also about the management control. It may be too soon to say anything now, but I may have a discussion with Thai Airways’ president," Asia Aviation CEO Tassapon Bijleveld said.
The Tassapon family are the major shareholder in the airline with 44%.
The deputy Prime Minister’s suggestion is born out of a desire by the government to see Thai airlines collaborate more closely to improve operational performance and connectivity across the ASEAN region.
"Thai AirAsia operates across many routes and has a good profit record. If Thai Airways acquires a stake, it may be a good synergy. However, it is important that Thai Airways should not intervene AAV’s management," an industry analyst told DealStreetAsia.
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