China's Sino Haijing now eyes 49% of Thailand's Siam Air

China's Sino Haijing Holdings has announced it has signed a non-legally-binding Memorandum of Understanding (MOU) for the proposed acquisition 49% of the entire issued share capital of Thailand's Siam Air (O8, Bangkok Don Mueang) from Splendid Stream for CNY300 million (USD43.3 million).

As with its proposed purchase of a 49% stake in another Thai carrier, Jet Asia Airways (JAA, Bangkok Suvarnabhumi), Sino Haijing says the acquisition would benefit the development of its aviation business in Asia while enhancing its competitiveness in the Asian aviation industry.
For its part, Siam Air operates two B737-300s and two B737-800s (leased from Air Lease Corporation) on scheduled passenger flights from its Bangkok Don Mueang hub to Hong Kong Chek Lap Kok, Zhengzhou, Guangzhou, Macau Int'l, Singapore Changi, and Changsha Huanghua.

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