Airport staff protest bond-buying plan

Around 500 Airports of Thailand (AoT) employees dressed in black on Tuesday amid rumours that the agency plans to buy government bonds to help the caretaker government pay farmers owed money under the rice-pledging programme.

The staff gathered at AoT's main office on Vibhavadi Rangsit Road to demand an explanation from president Makin Petplai.

Mr Makin told them that AoT is currently holding excess liquidity totalling 37 billion baht and is undecided on where to invest the money.

He did not rule out a possible purchase of bonds issued by the Finance Ministry as part of the caretaker government's attempts to pay farmers, but insisted that he was under no political pressure to make a purchase.

Bond purchasing will not be on the agenda at a board meeting chaired by Sqn Ldr Sita Divari on Thursday, he added.

The caretaker government is looking for cash to make overdue payments for farmers involved in its rice subsidy scheme. It is seeking 130 billion baht to pay more than one million rice growers.

One way in which the government could generate the cash is by issuing bonds for state-owned firms to buy. AoT is believed to be one of its targets.

The AoT chief pledged that any investment made by the agency will not affect its development plans, including the expansion of Suvarnabhumi and Phuket airports and facility improvements at Don Mueang.

Share your thoughts

Discussion 1 : 19/02/2014 at 01:12 AM
If it is a fact, then you will be able to supply the evidence . . . . . Or are you, like these protestors, merely reacting to a rumour without checking the truth?
Discussion 2 : 19/02/2014 at 12:15 AM
This administration will suck the country dry. First money from the banks (of which most balked), now bonds to pay off a debt that will never end. Bonds carry interest, the debt will grow even larger than it already has become since October. Why not put temples up for auction next?
Discussion 3 : 18/02/2014 at 11:20 PM
Why doesn't Thaksin buy the bonds, if they are such a good investment? Is he afraid of something?
Discussion 4 : 18/02/2014 at 11:11 PM
why not? Imagine what a good feeling this would be for all passengers flying to and from Thailand....knowing that their landing fee and security fee and excess price in Duty Free will be used to give money to the starving farmers in the North of Thailand......or for paying for the monthly leases of their new Mercedeses for that matter...
Discussion 5 : 18/02/2014 at 10:00 PM
Junk bonds are not an unusual investment. Sony was recently rated junk. If the bond holders wish to make the risk and suffer the consequences then it is up to them. They only have to realize that if it fails they are responsible, an almost unheard of act here.
Discussion 6 : 18/02/2014 at 09:25 PM
Don't like your employer, don't be weak or cowardly, just resign!
Discussion 7 : 18/02/2014 at 09:14 PM
AoT believed to be one of the bond buyers? What a joke. Dubai has ordered Aot to buy! That is a fact!

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