KUALA LUMPUR (Dec 28): Tassapon Bijleveld, chief executive officer of Thai AirAsia, has bought back 36.3% of the shares in Asia Aviation (AAV), a 55-% shareholder of Thai AirASia Co, at Bt4.70 (58 sen) per share amounting to around Bt8.279 billion (RM1.03 billion) for 1.761 billion shares.

AirAsia Bhd group chief executive Tan Sri Tony Fernandes tweeted: “Big day for AirAsia as we move towards Asean and one company. @tassapon takes back ownership of AirAsia Thailand. One airasia coming with Indonesia and Phillipines.”

Thailand news portal The Nation reported earlier today that the shares were bought from Vichai Srivaddhanaprabha, the group chairman of King Power Group, and his family.

It said the move was explained by Tassapon’s “passionate relationship” with the airline and boosted his stake in AAV from 5% to 41.3%.

Tassapon as reported as saying that he said he had bought back the shares from the Srivaddhanaprabha family because of his love for the airline, which he has managed since its foundation, adding that the stake would allow him to better realise the vision and direction of the company.

“I assure all that the management team that has been running the airline from the very first day will continue to play a critical role in driving Thai AirAsia forward,” Tassapon was quoted as saying.

He financed the purchase with support from Bangkok Bank and will adhere to Securities and Exchange Commission rules |and submit a mandatory tender offer on Jan 8 to purchase the remaining shares on the market at a price of Bt4.70 per share.