28-Feb-2011 11:07 AM

Thai Airways reluctant to buy more shares in Nok Air

Thai Airways president Piyasvasti Amranand stated: "We are reluctant to buy more shares in Nok Air", due to its lack of hedging against prevailing high fuel prices, and its policy to purchase aircraft as opposed to leasing (Bangkok Post, 26-Feb-2011). THAI offered recently to purchase 5 million Nok Air shares held by Krung Thai Bank for USD4.9 million (THB150 million) or THB30 baht a share. KTB maintains the shares are worth THB44 each and has not responded to THAI's proposal.

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