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Thai Airways insists on THB30 offer for Nok Air stake

25-Jan-2011 10:32 AM

Thai Airways International insists on paying Krung Thai Bank THB30 each for shares in Nok Air, against THB44 proposed by the bank (The Nation, 25-Jan-2011). THAI president Piyasvasti Amranand – commenting yesterday on the progress towards buying a 10% stake in SkyAsia, operator of Nok Air, from state-owned KTB – said the company had not received any reply from the bank. Mr Amranand added Nok Air has recently revised down its forecast for results in 2011, affected by rising world oil prices. The negotiations for the share purchase are expected to conclude shortly. The next talks are expected on 26-Jan-2011. Mr Amranand added that if the purchase goes through, THAI shares would increase from 39% to 49%.