Nok Air's IPO expected in mid-2013

Singapore
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Thai Airways International expects the initial public offering for its low-cost affiliate Nok Air to take place in the middle of 2013.

Thai's president Sorajak Kaemsuvan says the board recently approved the IPO for Nok, but it still requires the approval of the budget carrier's board before it can move forward.

"I think it will be done some time next year, probably middle of the year," he says.

Thai currently holds a 49% stake in Nok and Kaemsuvan adds that following the IPO, he expects that it will still be the largest shareholder in the budget carrier. However, he did not say how much of a stake it is expecting to retain.

The IPO will allow the airline to expand its fleet and boost its network, which will be focused on domestic and regional routes from Bangkok's Don Mueang airport.