The former chief executive of Nok Air (DD, Bangkok Don Mueang) has told Forbes that the airline needs a strategic partner to secure its future and that if Thai Airways International (TG, Bangkok Suvarnabhumi) continues to diminish its support, Singapore Airlines (SQ, Singapore Changi) may step up to the plate. Patee Sarasin made the comments in relation to Nok's upcoming recapitalisation in mid-October.

THAI chose not to participate in Nok's previous capital raise, effectively diluting its stake from 39.2% to 21.6%. Talking about the new stock issue, Sarasin seems unfazed if Thai abstains again. "The current major shareholders now, beside Thai, have expressed that they are willing to take all of it if TG [Thai] doesn’t want to participate," he told the news site.

Sarasin recently stepped down as CEO of Nok in a move that many interpret as a concession to Thai, which has become increasingly dissatisfied with the low-cost carrier's performance. If Thai, however, continues to withdraw its support, Sarasin says that they will look elsewhere for a strategic partner.

"We always talk to SQ [Singapore Airlines] on everything," Sarasin said. "There is always exploring on future things that we can do together."

Nok Air and Singapore Airlines currently have a partnership through their joint venture NokScoot (Bangkok Don Mueang).