My Account Menu

CAPA Login

Register to trial CAPA Membership!

Thai Airways wants ministry to cut stake

2-Jun-2011 10:24 AM

Thai Airways management proposed that the Finance Ministry, which currently holds 51%, reduce its stake in the carrier to allow for more flexibility in conducting business overseas (The Nation, 02-Jun-2011). Permanent secretary Areepong Bhoocha-oom said the ministry agreed with the proposal in principle but there had been no mention on the extent of the dilution of its stake, "however, the ministry should control at least 30-40%". State Enterprise Policy Office (Sepo) director-general Somchai Sujjapongse said the Finance Ministry had also discussed diluting its shareholding, adding: "If THAI wants to be privatised and it can raise funds by itself as it has strong financial status, we [the authority] are ready. However, at the moment it is just talk, they have not come up with a concrete plan."