Thai AirAsia founder back in control

Thai AirAsia (TAA) chief Tassapon Bijleveld has regained his sway over Thailand's largest low-cost carrier through an 8.28b-baht share buyback<br/>from King Power Group. Tassapon agreed to pay the Srivaddhanaprabha family, which owns the duty-free store chain and Leicester City football club, 4.70b each for more than 1.76b shares in Asia Aviation. SET-listed AAV owns a 55% stake in TAA, which started operations 13 years ago. Tassapon is one of the founders of the airline, along with Malaysia-based AirAsia. The Srivaddhanaprabha family bought a 39% stake in AAV for 7.94b baht from Tassapon and his family in June 2016. After the deal was confirmed last night, Tassapon reinstated himself as a major AAV shareholder, owning a 41.3% stake in the company, up from 5% earlier. Tassapon said his share buyback stemmed from his "love" for TAA, which he has managed since its inception. He said the buyback will allow the continuation of TAA's growth plan, such as adding seven A320 jets next year, carrying some 22m passengers in 2018 and expanding its network in Asean, India and China.<br/>