Thai govt cuts Thai Airways stake to below 51% as part of restructuring plan

The Thai government lowered its equity ownership in Thai Airways International to below 51% by selling a 3.2% stake, a regulatory filing showed, as part of the rehabilitation process for the troubled national carrier. The Thai Finance Ministry offloaded 69.2m shares to a mutual fund run by state-owned Krung Thai Bank, a Finance Ministry filing to the Securities and Exchange Commission (SEC) on Friday showed. The filing did not disclose the sale price. The sale reduced the Thai government stake in Thai Airways to 47.86% from 51.03%, ending the airline’s status as a state-owned enterprise, one of the steps included in the restructuring plan of the national carrier.<br/>