Malaysian National News Agency

Thai Airasia CEO Buys Back 36.3 Pct Stake In Asia Aviation
December 28, 2017 11:39 AM
KUALA LUMPUR, Dec 28 (Bernama) --Thai AirAsiaCo Ltd Chief Executive Officer (CEO)Tassapon Bijleveld has bought back 36.3 per cent of the shares in Asia Aviation PCL for8.279 billion Baht (RM1.03 billion) fromKing Power Group Chairman Vichai Srivaddhanaprabha and his family.

Asia Aviation owned 55 per cent interest inThai AirAsia and following the transaction,Tassapon's stake in the company grew to 41.3 per cent from five per cent previously.

In a note, the Centre for Aviation (CAPA) saidSrivaddhanaprabha and his family bought their stake in the company for 7.9 billion Baht last year.

Tassapon was reported as saying that theacquisition would allow him to better realise the airline's vision and direction.

"Thai AirAsia will continue to invest in 2018 as planned, which will include the acquisition of seven aircraft. We estimate the number of passengers in 2018 to be around 22 million and we can achieve this by penetrating new markets in ASEAN, India and China,"he added.

In his official twitter account,AirAsia Bhd Group CEOTan Sri Tony Fernandes said:"Big day for AirAsia as we move towards ASEANand one company. @tassapon takes back ownership of AirAsia Thailand. One Airasia coming with Indonesia and the Philippines."

Fernandes said AirAsiawas currently working with PalantirTechnologies on a development that wouldincrease sales dramatically and transforming the budget airlineintoa digital company.


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