The board also issued a condition that Nok Air must replace its chief executive Patee Sarasin before THAI would buy any shares, the source noted. Nok Air reported a net loss of 295 million baht in the first quarter this year. THAI's 39.25% stake means the firm does not have full management power of Nok Air and cannot fully tackle its problems, said Mr Damrong. THAI shares closed yesterday on the SET at 18.20 baht, up 40 satang, in trade worth 153 million baht. NOK shares closed at 4.60 baht, down six satang, in trade worth 4.12 million baht.

Source: Bangkok Post May 23, 2017 23:31 UTC