Thai Airways International to Set Date of Share Sale.

Byline: Nondhanada Intarakomalyasut

Jul. 4--Encouraged by positive signs, including a lower-than-expected loss during the Sars outbreak, Thai Airways International Plc (THAI) will determine a definite timing for its share offering by the end of this month.

According to president Kanok Abhiradee, the airline's load factor was steadily increasing and it lost only 1.5 billion baht during the Sars outbreak from April to June, much less than the projected six billion baht.

As the situation is improving, it is now appropriate time to reconsider selling new shares, he said.

THAI's cabin factor is now more than 60 percent and the airline will likely be out of the crisis sooner than most carriers, said Mr Kanok.

THAI had planned to float 300 million new shares and 100 million shares currently held by the Finance Ministry but the plan has been postponed several times since 2001 due to events that have had a negative impact on the aviation industry.

The government has wanted to reduce its stake in the national carrier to 70 percent from 93 percent.