Thai Airways to raise money for new aircrafts

Thai Airways' President Piyasvasti Amranand said the proceeds will be used for general corporate purposes, including to manage its liquidity, finance future aircraft investments, strengthen Thai's capital base, and repay its debts.

"The offering is an integral part of Thai’s commitment to pursue its long-term growth strategy and to maximise shareholder value," Mr Piyasvasti said.

The board has given the company the flexibility to increase its common shares of up to 1,000,000,000 new shares. The exact amount, pricing and terms of the offer will be determined at a later date before the commencement of share subscription.

Thailand's Ministry of Finance, which currently owns 51.3 per cent of the carrier, will be allowed to subscribe to new shares to maintain its shareholding level. But shareholders still have the formality of a vote on the capital raising at the company's annual meeting on April 28.


[Source: Aviation Record]