SInGAPORE_AIR
Posts: 11621
Joined: Mon Nov 13, 2000 4:06 am

Thai Airways International Seeks €uropean Investor

Sun Jun 02, 2002 1:01 am

Thai Airways International a member of the Star Alliance - The Airline Network For Earth - wants a strategic €uropean bank or airline to hold a strategic stake in the airline.

Thai Airways International's newly appointed president Kanok Abhiradee said, "We hope to be able to have a road show by either year end or the beginning of next year," Kanok said. "Most likely Europe...We have principally targetted strategic investors first of all within Star Alliance."

The Star Alliance is comprised of Thai Airways and Singapore Airlines among other 15 member airlines.

"The European market has been less affected by the catastrophe in September," he said, referring to the September 11 attacks which wreaked havoc on the airline industry, especially in North America"

Thai Airways is 93% owned by the Thai government.

More information at the Reuters / Yahoo website
Anyone can fly, only the best Soar.
 
airblue
Posts: 1785
Joined: Sat May 19, 2001 9:16 pm

RE: Thai Airways International Seeks?European Investor

Sun Jun 02, 2002 1:45 am

I have a big suspect that Air France is really interesting in buy a stake in Thai.
AF needs a strong partner in South-East Asia and since all the main carriers of the area (including Thai, of course) are already member of international alliance, this is a good opportunity to "steal" a member to STAR.
AF last Q1 was really good and they expected to be the more profitable European airlines for 2002, so cash for this financial operation will not a problems.

 
SInGAPORE_AIR
Posts: 11621
Joined: Mon Nov 13, 2000 4:06 am

RE: Thai Airways International Seeks €uropean Investor

Sun Jun 02, 2002 2:59 am

Your theory is correct Airblue. However, I am more optimistic for Star and hope LH or SAS or AUA or Lauda or Tyrolean or bmi get the stake  Big thumbs up hehe.
Anyone can fly, only the best Soar.

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