Nok Air Investment

Shareholders at Nok Air have approved a 1.5 billion baht investment scheme in a bit to revive the ailing company.

The airline will raise the funds via a share scheme, selling up to 625 million ordinary shares to existing shareholders.

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Commitments have been assured from its two largest shareholders Thai Airways International and businessman Nuttapol Jurangkoo.

The funds are required to rid the airline of its debts.

Narongchai Wongthanavimok, a Nok Air board member, said the company will hire consultants to iron out a rehabilitation plan.

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