Tails of two Thai Airways aircraft

In an attempt to raise capital, Thai Airways International PCL (THAI) have announced that it will make a public offering of a billion newly issued shares on 16-17 September 2010.

The efforts to increase funds is set to support the airline’s plans to expand and improve, in line with THAI’s hope to “consistently rank among top three airlines in Asia and top five in the world”.

“The capital raised from this Public Offering will increase THAI’s financial strength and flexibility, improve competitiveness of our fleet by executing comprehensive re-fleeting and aircraft retrofit programs,”  THAI President Piyasvasti Amranand said.

“I expect we will raise about THB 15 billion (USD484 million),” he told the China Post.

The Thai Ministry of Finance will remain the majority shareholder of THAI, holding 51 per cent of the company after the offering, while the remaining shares will be offered to existing shareholders and to retail investors in Thailand.