The Thai Government has sold a 3.2% stake in national carrier THAI Airways according to a filing listed with the SEC on Friday. The stake of 69.2 million shares was sold to the Vayupak 1 mutual fund run by Krung Thai Bank. The government’s stake is now 47.86%, ending THAI Airway’s days as a majority-owned state enterprise.
The Cabinet agreed the government will reduce its holding in Thai Airways to under 50 percent, ending the airline’s status as a state-enterprise,” Saksayam Chidchob, Thailand’s transport minister said last week.
Thai Government offloads airline to save the airline
We’ve extensively covered the financial woes of THAI Airways at Simple Flying. With the exception of 2016, the airline has posted losses since 2012 and carries debts of approximately $2.9 billion. In 2019, THAI Airways lost $376 million. In the first half of 2020, the airline is expected to lose around $565 million.
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