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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (26276)	12/19/2002 4:53:55 AM
From: elmatador	Read Replies (1) of 74559

This qualifies as: 3) Buying from the ones crying to sell. 4) Dung beetle feeding on the elephants poo Paper says Thai Air may buy United aircraft 19 December, 2002 16:26 GMT+08:00 BANGKOK (Reuters) - National carrier Thai Airways International Plc's board were to meet on Thursday to consider a plan to buy eight or nine Boeing 747-400 aircraft from embattled United Airlines, a newspaper reported on Thursday. The Business Day quoted Thai Airways Chairman Thanong Bidaya saying the prices of the United aircraft were cheaper and the airline would not have to wait long for deliveries compared with that of new aircraft. He gave no further details. United, a unit of Elk Grove Village, Illinois-based UAL Corp UAL , filed the largest bankruptcy in aviation history last week. Thai Airways officials were not available for immediate comment on the report by the English-language daily. Thai Air, which has 81 aircraft, plans to acquire another 12 planes in the next five years. Airline officials had said two Boeing 747-400 planes, and another mid-sized Boeing or Airbus, would be the first three bought under the plan. Sources close to Thai Airways have said the carrier planned to buy nine Airbus EAD and three Boeing BA planes, but officials at the carrier have declined to confirm this. Thai Airways is 93 percent owned by the government, which has said it planned to reduce its stake to 70 percent by selling shares to the public. The share sale plan has been delayed until the first quarter of 2003 due to unfavourable market conditions. Thai Air shares closed down one baht at 34 baht on Wednesday COMMENTS: That is how this thing is going to play. Li Ka Shing buying Global Crossing and now Thai Ariways buying UAL planes. I just wonder: Why "Motorola to buy back $825 million debt" using its pile of cash!! asia.reuters.com

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