Thai Airways' Board has given in-principle approval to plans to establish a new regional airline. The carrier, Thai Wing, will commence domestic and international services in Mar/Apr-2012.
Thai Wing will operate short-haul services with five leased B737s and two other leased aircraft in its first year, with the fleet expected to reach 11 within three years.
Thai Airways' shares fell 0.7% on Friday, while Tiger Airways shed 1.3%.
Selected APAD daily share price movements (% change): 23-May-2011