King Power secures 39percent stake in Asia Aviation in Bt7.9-billion deal
Duty-Free Operator King Power Group has taken a 39-per-cent controlling stake in Asia Aviation, the operator of Thailand’s largest budget airline Thai AirAsia, from the carrier’s chief executive Tassapon Bijleveld and two of his family members in a deal worth more than Bt7.9 billion. If King Power fails to renew the contract, it can still provide its services on board flights, the source said. “Customers can go shopping at its main store at [Soi] Rangnam and receive the goods on their flight. But if the contract is renewed, this remains a win-win strategy for both.”
