THAI Announcement After Board of Directors’ Meeting

Yesterday (28 November 2000), Thai Airways International Public Company Limited held a Board of Directors’ Meeting, chaired by Mr. Srisook Chandrangsu, THAI’s Chairman, with the following results:

1. Appointment of Management

The Board of Directors approved the appointment of THAI Management as follows:

1. Mr. Prajak Jamrusmechoti, Executive Vice President, Commercial, was appointed Executive Vice President, Human Resources & General Administration

2. Mr. Tasnai Sudasna na Ayudhaya, Executive Vice President, Human Resources & General Administration, was appointed Executive Vice President, Customer Services

3. Sqn. Ldr. Pradith Vudhivate, Vice President, Aviation Personnel Development, was appointed Executive Vice President, Operations

4. Mr. Suthep Suebsantiwongse, Vice President, Revenue Planning and Management, was appointed Vice President, Sales and Distribution, and acting Executive Vice President, Commercial

5. Mr. Charnchai Singtoroj, Vice President, Sales and Distribution, was appointed Vice President, Revenue Planning and Management

6. Mr. Prasert Khlongwathanakith, Vice President, Subsidiaries and Investment, was appointed Vice President, Accounting

7. Mr. Sathok Varasarin, Director, Inflight Services Catering Administration, was appointed Vice President, Subsidiaries and Investment

8. Mr. Vasing Kittikul, Director, Commercial Promotion, was appointed acting Vice President, Sales and Distribution

The appointments aim to increase the experience and skills of THAI’s management team, enabling them to effectively manage the airline at an international standard, as well as to replace former management members who retired at the end of September 2000. The appointments will be effective as of 1 December 2000.

2. Visual System Modification of Airbus A300-600 Aircraft Simulator

The Board of Directors approved the contract to install the visual system modification of Airbus A300-600 aircraft simulator from Thomson Training and Simulation to increase effectiveness of the simulator.


3. THAI’s Balance Sheet and Income Statement

The Board of Directors was informed of THAI’s financial performance through presentation of balance sheets and statement of income 1999/2000. THAI achieved 121,712 million baht in operating revenue, and a pre-tax profit of 4,914 million baht. Earnings per share reached 3.37 baht compared to 3.36 baht for the same period last year.

The net operating revenue increased by 9 million baht, even though there was an increase of 7,485 million baht expenses on aircraft fuel compared to the same period last year. The loss in exchange rate resulting from adjustment of company foreign loans amounted to 3,301 million baht compared to 4,752 million baht during the same period last year. Cabin factor was calculated at 74.5 per cent compared to 72.7 percent during the same period last year which is an increase of 1.8 per cent.