The cabinet yesterday approved a proposal by the Transport Ministry to allow Thai Airways International Plc (THAI) to establish Thai Smile Airways Co with registered capital of 1.8 billion baht.
THAI will hold 100% of Thai Smile. The plan is mainly aimed at boosting operational efficiency and cutting losses for both airlines and the parent company.
Chalitrat Chandrubeksa, deputy government spokesman, said Thai Smile will have 180 million shares with par value of 10 baht apiece. Of the planned registered capital, 25% of 450 million baht would be paid this year, with the remaining 1.35 billion baht to be paid next year.
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