star

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

THAI has informed the Stock Exchange of Thailand it has not considered investing in any other airline. THAI's CFO Narongchai Wongthanavimok wrote to the SET to deny earlier reports that THAI may acquire at least a 20% stake, worth about THB5b, in Thai AirAsia. The reports have raised a few eyebrows amid questions over whether the deal would bring any benefit to the troubled carrier. 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. <br/>