Thai management of Asia Aviation to sell some equity to King Power: CEO

[BANGKOK] The Thai management of Asia Aviation, a major shareholder of Thai AirAsia, will sell some of its stake to King Power group, the country's largest duty free retailer, chief executive Tassapon Bijleveld said on Monday.

The company will provide details of the stake sale to the Stock Exchange of Thailand after the market closes on Monday, Mr Tassapon told Reuters.

The Thai management, led by Mr Tassapon and his family, owns a combined 45 per cent of Asia Aviation, with the rest held by public. Asia Aviation has a 55 per cent stake in Thai AirAsia, the country's largest budget airline.

REUTERS