TOKYO, Dec. 4 (Xinhua) -- One of Japan's major travel agencies, H.I.S. Co., said Tuesday it will set up an airline based in Bangkok, capital of Thailand, by the end of this month to meet growing travel demand in Asia.
The new airline is expected to begin operating charter flights from next summer, flying from Bangkok to China, South Korea, the Middle East as well as to Japan, said H.I.S president Akira Hirabayashi.
The new company, Asia Pacific Airlines Co., to be capitalized at 540 million baht, or about 1.4 billion yen, will be owned 49 percent by H.I.S. and 39 percent by its Thai unit H.I.S. Tours Co. with the remainder held by Thai hotelier Panlert Baiyoke, according to reports. (One U.S. dollar equals to 82.13 yen)
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