Thai AirAsia CEO increases AAV stake

national December 28, 2017 01:00

By The Nation

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TASSAPON BIJLEVELD, chief executive officer of Thai AirAsia, has bought back 36.3 per cent of the shares in Asia Aviation (AAV), a 55-per-cent shareholder of Thai AirASia Co, at Bt4.70 per share amounting to around Bt8.279 billion for 1.761 billion shares.



The shares were bought from Vichai Srivaddhanaprabha, the group chairman of King Power Group, and his family.

The move was explained by Tassapon’s “passionate relationship” with the airline and boosted his stake in AAV from 5 per cent to 41.3 per cent.

He said he had bought back the shares from the Srivaddhanaprabha family because of his love for the airline, which he has managed since its foundation, adding that the stake would allow him to better realise the vision and direction of the company.

“I assure all that the management team that has been running the airline from the very first day will continue to play a critical role in driving Thai AirAsia forward,” Tassapon said.

He financed the purchase with support from Bangkok Bank and will adhere to Securities and Exchange Commission rules |and submit a mandatory tender offer on January 8 to purchase the remaining shares on the market at a price of Bt4.70 per share.

 

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