Thai Airways International (THAI) revealed the decision by its board of directors to not increase capital in Nok Air, which lacks liquidity and requires additional funding to continue operations.
Although this would imply a reduction of THAI’s equity, the board came to the decision based on suitability and value considerations as well as the ongoing nature of the LCC’s transformation.
THAI will continue to contribute as a shareholder and support Nok Air’s recovery. A THAI representative who is a member of Nok Air’s board of directors has been assigned to oversee and assist Nok Air through to completion of its transformation plan.
