BANGKOK, July 21 (TNA) – The Civil Aviation Board allowed local mutual funds and provident funds to acquire shares in airlines.
Civil Aviation Authority of Thailand director-general Chula Sukmanop said the board chaired by Transport Minister Saksayam Chidchob ordered CAAT to draft a ministerial regulation to allow such funds to invest in airlines and the new regulation should take effect in three months.
The movement responded to airlines’ request for the permission. The market situation was promising for the investment and airlines could be rescued from their financial crisis, he said.
The right to invest in airlines would be reserved for local funds only, Mr Chula said.
Earlier airlines had no rights to raise funds through the Stock Exchange of Thailand although many other organizations had the rights to attract investment from mutual funds, he said. (TNA)
