Full article on forbes.com
Nok Air's outgoing boss believes his company needs a strategic partner to stay afloat and that Singapore Airlines may step in if Thai Airways International (THAI) ends its financial support.
“The shareholders have been discussing about this themselves,” Patee Sarasin told me this month, when asked about the possibility of THAI abstaining from Nok’s 1.7 billion baht ($51 million) recapitalization. “The current major shareholders now, beside THAI, have expressed that they are willing to take all of it if TG [THAI] doesn’t want to participate.”
In that scenario, Sarasin said Nok would begin searching for a new strategic partner “that can provide knowhow”. He confirmed that Singapore Airlines, an existing partner of Nok’s through low-cost long-haul venture NokScoot, would be among the candidates...