Thai Airways International's partners in Star Alliance are seeking the lion's share of government stock in the airline when it comes on market next month, according to the national carrier's president.
Thamnoon Wanglee said the government hoped to raise five billion baht (about HK$930 million) by cutting its 93 per cent stake to 71.5 per cent.
'Last time we met with our Star Alliance partners, they agreed [to purchase] whatever the Thai Government was willing to put up,' Mr Thamnoon said.
'They were willing to participate in the investment because they want to keep the alliance alive,' he said. 'They don't want other competitors to come in and buy our shares.' The alliance partners are Lufthansa, United Airlines, Air Canada, Varig and Scandinavian Airlines System.
Air New Zealand and Ansett Australia plan to join the group next year.