Farnair bought a 45% stake in the Thai cargo airline K-Mile from Malaysia’s Transmile group. Finance for the deal was sourced entirely from within the Switzerland-based express cargo operator. Suan Plu Thani Limited of Thailand remains the majority shareholder with 55%. The deal will see K-Mile upgrade its aging fuel-hungry fleet of three tri-engine 727-200Fs to newly converted 737-400Fs in the third quarter of this year. No reason was given for Transmile’s willingness to sell, ...

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