THAI to delay privatization

Mon, 22 Dec 1997, 00:00 WIB | Source: AFP

BANGKOK (AFP): Thai Airways International (THAI) executives
want to delay the privatization slated for next June even though
it is a condition of Thailand's IMF bailout, the Bangkok Post
reported Saturday.

THAI chairman Mahidol Chantrangkurn was quoted as saying the
privatization needed to be delayed because laws stipulating that
Thais must own not less than 70 percent of the national carrier
had to be amended first.

His remarks contradict a recent statement by the transport
minister that THAI would be privatized in June, under a
commitment made to the International Monetary Fund (IMF) for
Thailand's $17.2 billion bailout package.

THAI president Thamnoon Wanglee said the privatization could
be postponed if the local market was not in good shape, adding
that recovery was unlikely next year.

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