B3.1bn injection keys Thai AirAsia rejig

Asia Aviation (AAV), the largest shareholder of Thai AirAsia (TAA), is preparing to restructure its business after securing 3.15 billion baht from a new investor as it was unable to obtain a soft loan from the government.

Tassapon Bijleveld, executive chairman of AAV, said it is also planning to launch an initial public offering (IPO) for TAA as part of a corporate restructuring to stem the impact from the pandemic.

“We cannot wait for the government to allocate soft loans airlines requested a year ago. We hope the agreement with a new investor will help the airline preserve liquidity and maintain flight operations as usual when the aviation industry bounces back early next year,” said Mr Tassapon.

He said TAA is qualified to be…