BANGKOK, June 19: Shares of Thai aviation firms and hoteliers fell today after Thailand confirmed its first case of Middle East Respiratory Syndrome (MERS), further dampening tourism sentiment already hit by an international aviation agency’s safety rating downgrade. Airports of Thailand Pcl dropped 4.2 per cent, national carrier Thai Airways International Pcl eased 2.3 per cent and hotelier Central Plaza Hotel Pcl plunged 6.6 per cent, all extending losses for a second day. The selloff yesterday came as Thailand’s civil aviation body was put under scrutiny after the United Nations’ aviation agency downgraded its safety ratings for failing to properly oversee airlines under its jurisdiction. “This could dampen the prospects for the tourism sector which has been the only bright spot for Thailand’s economy so far,” said market strategist Nattariya Wittayatanaseth at Kasikornbank Pcl. Public Health Minister Rajata Rajatanavin told a news conference late on Thursday that a 75-year-old businessman from Oman had tested positive for MERS, the fourth Asian country to register the deadly virus this year. The broader stock market index was down 0.3 per cent, underperforming others in Southeast Asia. Among other losers, low-cost carrier Nok Airlines Pcl shed 2 percent, Asia Aviation Pcl slipped 5.4 per cent and hotel operator Minor International Pcl fell 3.3 per cent. (AGENCIES)
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Home International Thai airline shares, hoteliers fall on first MERS case, aviation safety downgrade
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