Thai AirAsia owner in talks to buy stake in rival Nok Air
Thailand's Asia Aviation, the majority owner of LCC Thai AirAsia, said Monday it was in talks to buy a stake in rival Nok Airlines, sending Nok's share price up as much as 13%. The announcement comes as a tourism boom in Thailand stokes competition among carriers. The country logged 38.27m arrivals last year, and is set to welcome 6.9% more this year, govt data showed. Nevertheless, competition pushed Asia Aviation into losses in the latter half of last year, while Nok Air has not had a profitable quarter since 2015. Joining forces to stem the decline is therefore seen as an attractive option. Asia Aviation did not specify how much of Nok Air it would buy. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-02-26/unaligned/thai-airasia-owner-in-talks-to-buy-stake-in-rival-nok-air
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Thai AirAsia owner in talks to buy stake in rival Nok Air
Thailand's Asia Aviation, the majority owner of LCC Thai AirAsia, said Monday it was in talks to buy a stake in rival Nok Airlines, sending Nok's share price up as much as 13%. The announcement comes as a tourism boom in Thailand stokes competition among carriers. The country logged 38.27m arrivals last year, and is set to welcome 6.9% more this year, govt data showed. Nevertheless, competition pushed Asia Aviation into losses in the latter half of last year, while Nok Air has not had a profitable quarter since 2015. Joining forces to stem the decline is therefore seen as an attractive option. Asia Aviation did not specify how much of Nok Air it would buy. <br/>
