Farnair takes 45% stake in K-Mile Air

This story is sourced from Pro
See more Pro news »

Farnair Switzerland has taken a 45% stake in Thai cargo carrier K-Mile Air, its second major investment in an Asian operator.

The company acquired the stake from Malaysia’s Transmile Group, while local company Suan Plu Thani will continue to hold the remaining 55% of the Thai carrier. The deal closed on 3 March.

Flightglobal’s Ascend Online Fleets database shows that the Bangkok Suvarnabhumi based operator has one Boeing 727-200 Freighter in its fleet, however that aircraft will soon be replaced by a 737-400F.

“The introduction of newer efficient B737-400 cargo aircraft coupled with building on our existing excellent team at K-Mile will see us being able to fulfill the needs of the market,” says K-Mile chief executive Kedchai Benjaathonsirikul.

The K-Mile transactions comes after Farnair last year increased its stake in Indian operator Quikjet. It has not disclosed how much of the Indian carrier it now holds.