Government ownership in Thai Airways International is due to be reduced to 70% from 93% by the end of this month as part of a long-delayed share offering.

Thai last week launched a domestic and international roadshow for its share offering and the offer price is to be fixed on 19 November, followed by subscriptions on 20 and 21 November.

Thai's government owner has been talking about a share offering for more than five years, but it has been repeatedly delayed. The airline and the government say the economic climate is now right for a sale, however, and they expect around 15 billion baht ($375 million) to be raised.

The finance ministry is due to sell 100 million shares in the carrier, while Thai will issue 300 million new shares, of which 15 million will be set aside for employees.

Source: Flight International