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By Cirium2021-01-21T10:34:00+00:00
Thai Airways International and Asiana Airlines, both undergoing restructuring, have disclosed details about selling off non-core subsidiaries.
Thai Airways completed on 19 January the sale of a 15.5% stake in Bangkok Aviation Fuel Services (BAFS) to Ratch Group for Bt2.7 billion ($90 million), at Bt27.40 per share, it said in a same-day statement.
Source: Shutterstock
An Asiana Airlines’ Airbus A320 at Guangzhou airport in 2019
Thai Airways states that this is a third-party transaction, and that BASF’s core businesses include aviation fuel storage system and aviation refueling system in airports across Thailand.
All three entities are listed on the Thailand stock exchange. Ratch Group’s website indicates it is operated as a holding company that invests in energy, power generation, and infrastructure projects. ....

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