ID :
212775
Fri, 10/14/2011 - 14:30
Auther :
Shortlink :
http://m.oananews.org//node/212775
The shortlink copeid
Thailand's Novotel Suvarnabhumi Airport Hotel brought to rehabilitation process
BANGKOK, October 14 (TNA) - Thai Airways International (THAI), the national flag carrier, resolved on Friday to bring the Novotel Suvarnabhumi Airport Hotel to a rehabilitation process under the country's Bankruptcy Act to solve its management and liquidity problems.
THAI board chairman Ampon Kittiampon said that the national airline holds a 30 per cent stake and takes part in the troubled hotel's board, noting that the THAI board has also assigned the airline’s representative who is a director of the hotel to find out the cause of the loss-ridden operations of the airport hotel, despite its advantageous location and the rising number of air passengers visiting Thailand's main Suvarnabhumi International Airport.
Ampon revealed that the THAI board also resolved to buy additional 5 million shares, or a 10 per cent stake, of Nok Air, its low-cost subsidiary airline, from state-run Krung Thai Bank at 33 baht per share, and that the 165-million-baht purchase will raise the national airline’s holding in Nok Air from 39 per cent to 49 per cent and THAI will, therefore, have five directors in the nine-member board of Nok Air, instead of four. (TNA)
THAI board chairman Ampon Kittiampon said that the national airline holds a 30 per cent stake and takes part in the troubled hotel's board, noting that the THAI board has also assigned the airline’s representative who is a director of the hotel to find out the cause of the loss-ridden operations of the airport hotel, despite its advantageous location and the rising number of air passengers visiting Thailand's main Suvarnabhumi International Airport.
Ampon revealed that the THAI board also resolved to buy additional 5 million shares, or a 10 per cent stake, of Nok Air, its low-cost subsidiary airline, from state-run Krung Thai Bank at 33 baht per share, and that the 165-million-baht purchase will raise the national airline’s holding in Nok Air from 39 per cent to 49 per cent and THAI will, therefore, have five directors in the nine-member board of Nok Air, instead of four. (TNA)
