NewGen Airways (Bangkok Don Mueang) is looking to raise at least THB8 billion (USD228.6 million) through an IPO it is planning to hold either at the end of this year or at the beginning of next year.

Airline chief executive Jarurnpong Sornprasit told The Bangkok Post that it is consulting Ernst & Young and Bualuang Securities for its listing on the Bangkok bourse. Proceeds will go towards the setting up of an facility for training pilots, flight crew and aircraft technicians.

Earlier this year, Jarurnpong alluded to adding four B737-800s to NewGen's fleet every year for the foreseeable future.

Founded in 2013, NewGen Airways operates four B737-400s and four B737-800s on scheduled passenger flights between Thailand and China.