Economy February 14, 2014 00:00

By The Nation

Ad spending down 1.21% in January year on year

Advertising spending in January posted a 1.21-per-cent drop to Bt7.86 billion from Bt7.96 billion in the same month last year, according to media researcher Nielsen (Thailand).
Main media channels such as television, radio, newspapers, magazines and transit faced a decline, while cinema adverts and outdoor media did not. 
Advertising investment via TV dropped by 5.87 per cent to Bt4.71 billion, radio suffered a 10.4-per-cent decrease to Bt362 million, newspapers saw a 5.8-per-cent fall to Bt939 million, and magazines witnessed a 13-per-cent decline to Bt307 million. 
The prolonged political unrest was blamed as a key reason for the reductions.
Fitch affirms BAY ratings with stable outlook 
Fitch Ratings has affirmed Bank of Ayudhya’s long-term issuer default rating (IDR) at “A-” and its national long-term rating at “AAA(tha)”. The outlook is “stable”. 
At the same time, Fitch has also affirmed the bank’s viability rating (VR) at “bbb”. 
BAY’s IDR and national ratings reflect Fitch’s belief there would be an extremely high probability of extraordinary support from its institutional shareholder, Bank of Tokyo-Mitsubishi UFJ, if needed. 
This is based on BAY’s strategic importance to its parent, BTMU’s majority ownership and effective control, and an expectation of increased integration after BAY combines with BTMU’s Bangkok branch by the end of this year. 
Nok Air expands service  deal with Lufthansa Technik 
Lufthansa Technik and Nok Air are expanding their cooperation. 
About two years ago, Lufthansa Technik, a Hamburg-based MRO provider of maintenance, repair and operations, took over complete supply for Nok Air. 
Now, in addition to the 14 Boeing 737 Next Generation aircraft it currently looks after, the company will provide technical support for the further growth of the airline’s modern fleet and supply for all of the carrier’s 737NGs (up to 30) as part of a total technical support (TTS) contract. 
Nok Air already serves more destinations in Thailand than any other airline. With the fleet growth the airline envisages, it will rigorously pursue its growth targets in Southeast Asia.
The spectrum of services governed by the contract includes the supply of all components and consumables, engine and thrust-reverser overhauls, and services for landing gear and brakes. 
For this purpose, Lufthansa Technik has set up a material warehouse at the airline’s hub at Don Mueang International Airport in Bangkok, and is supporting the carrier’s growing fleet with technical fleet management onsite.