Thai Airways to hold public offering

Thai Airways announced (03-Sep-2010) plans to make a public offering of no more than 1,000 million newly issued shares with subscription scheduled on 16-Sep-2010 to 17-Sep-2010 at nationwide branches of Bangkok Bank (except Micro branches) and Krung Thai Bank. Proceeds from the offering will strengthen the carrier's financial status and support its business expansion projects, as well as products and service improvement. [more]

Thai Airways: "The capital raised from this Public Offering will increase THAI's financial strength and flexibility, improve competitiveness of our fleet by executing comprehensive re-fleeting and aircraft retrofit programs. Our aim is to achieve the highest service quality for customers, and to become more competitive through effective business model, operational efficiency and financial strength. We aspire to be one of the top three airlines in Asia and top five in the world ... We are confident that this public offering will prove successful, with anticipated positive response from both existing shareholders in Thailand and overseas as well as the general public," Piyasvasti Amranand, President. Source: Thai Airways, 03-Sep-2010.