THAI tells SET it's not taking stake in other airline

THAI tells SET it's not taking stake in other airline

A THAI Smile plane prepares to land at Suvarnabhumi airport on Dec 2, 2015. THAI Smile is a sister company of Thai Airways International. (Photo by Wichan Charoenkiatpakul)
A THAI Smile plane prepares to land at Suvarnabhumi airport on Dec 2, 2015. THAI Smile is a sister company of Thai Airways International. (Photo by Wichan Charoenkiatpakul)

Thai Airways International (THAI) has informed the Stock Exchange of Thailand it has not considered investing in any other airline.

THAI's chief financial officer Narongchai Wongthanavimok wrote to the SET to deny earlier reports that THAI may acquire at least a 20% stake, worth about 5 billion baht, in Thai AirAsia.

The reports have raised a few eyebrows amid questions over whether the deal would bring any benefit to the troubled flag carrier.

Mr Narongchai wrote that THAI discussed aviation strategies with all airlines in Thailand to promote transport and tourism.

However, it had not considered any investment in any other airline, his letter said.

The clarification by Mr Narongchai on Thursday caused THAI shares to tumble 4.03% to 11.90 baht at the end of trading. The shares had rallied since Feb 15 from 8.40 baht to 12.40 baht on Wednesday.


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