Financial Round Up
Bangkok Airways IPO approved
August 26th 2014
Bangkok Airways’ IPO has been approved by Thailand’s Securities and Exchange Commission and is waiting for a listing date in the coming months, reports Reuters. The first attempt failed last year due to questions raised over the company’s method of accounting property. Read More »
Bangkok Airways’ president and owner, Capt Puttipong Prasarttong-Osoth, is looking to sell 730 million shares, including 520 million new shares and 210 million existing ones, which is equivalent to a 25% stake in the company.
Profitable Bangkok Airways is Thailand’s fourth largest carrier by capacity share. The airline has been benefiting from the wide range of codeshare agreements it has with other carriers, especially from the Gulf. The Gulf’s “Big Three” are Bangkok Airway’s three largest partners, transferring an average 27,000 passengers, or approximately 8% of the carrier’s total passengers, onto Bangkok Airways’ network every month.
