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Thai Airways to Reorganize in Preparation for Privatisation.
Jul. 27--Thai Airways International Plc will undergo a reorganisation with the creation of four new business units in a move aimed at enhancing its portfolio to ensure successful partial privatisation at the end of this year.
Chairman Chai-Anan Samudavanija said the new four units -- ground terminals, technical, cargo and kitchens -- would be 100 percent owned by the airline.
He said the new structure was intended to help investors have a better understanding of the airline's business.
"In principle, we plan to focus on two sectors. Apart from our core airline business, the other will involve production and services, which will be divided into ground terminals, technical, kitchens and cargo," Mr Chai-Anan said.
The airline is studying the new business structure and will put a proposal to the board of directors next month, he was quoted by Reuters as saying.
The government plans to reduce its holding in Thai Airways to about 70 percent from the current 93 percent. The share sale has been delayed several times because of opposition to plans to sell a 10 percent stake to a single strategic partner.
Thai Airways has said it plans to sell 300 million new shares and 100 million existing shares held by the Finance Ministry this year.
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