THAI Announces Results of Executive Management Meeting

Thai Airways International Public Company Limited today held its Executive Management Meeting, chaired by Mr. Virabongsa Ramangkura, THAI’s Chairman and Acting President, with the following results:

I. Benefits for the Board Members

The management has agreed to terminate the benefits of THAI’s Board members as follows:
- The annual entitlement of 10 domestic and 10 international complimentary tickets
- Registered spouse and children of the Board members may purchase 10 domestic and 10 international air tickets at 25 per cent of the First Class air fare

The management will propose that the Board of Directors review such benefits as they are not in compliance with the Cabinet resolution on 28 August 2001, which stated the benefits allowed for state enterprise board members are as follows:

1. The benefits are applied only to the member excluding companions and family members
2. The members are entitled to these benefits only while holding the position as board members
3. The members are entitled to benefits of the products or services offered only by the state enterprise of which they are members

II. Appointment of Investigation Committee

The management proposed that the Board of Directors dissolve the current Investigation Committee, which is looking into the allegation of financial loss at THAI’s London office, and appoint a new committee, comprising the following members:

1. Mr. Borwornsak Uwanno Member of THAI’s Board of Director
2. Mr. Seri Chintanaseri Krungthep Seri-Manop Office
3. Mr. Suthep Suebsantiwongse THAI’s Executive Vice President, Human
Resource & General Administration
4. Mr. Bundit Sarimanond THAI’s Director, Tariffs & Agreement
Department
5. Mrs. Praneet Panyacheva THAI’s Director, Personnel Administration
Department
6. Mr. Ravat Chanprasert Legal Officer 7, THAI’s Legal Department

III. Adjustment of THAI’s flight timetable

Since the terrorist attacks on the United States on 11th September, THAI’s Board of Directors and Working Group have been monitoring the market situation as well as passenger and cargo movements on the routes operated by THAI in order to develop an appropriate flight timetable in accordance with demand. Today, the management meeting has approved the adjustments made to THAI’s flight timetable as follows:

1. Change of flight frequencies on the route Bangkok-Zurich

- Boeing 747-400 aircraft - 4 weekly flights
- MD-11 – 3 weekly flights
Previous operations on this route
- Boeing 747-400 aircraft - 3 weekly flights
- MD-11 – 4 weekly flights

2. THAI will reduce its flight frequency on the route Bangkok – Los Angeles v.v. from seven to six weekly services. The cancellation applies to the flight, which departing from Bangkok on Wednesday, and take effect from 21 November 2001.

3. THAI will be utilizing the A300-600 aircraft on the route between Bangkok – Phnom Penh v.v., replacing some of the flights utilizing the Boeing 737-400 aircraft to better accommodate the cargo demand on this route

4. THAI will be holding a discussion with Japan Airlines to suspend the Friday operations of the flight under the code share agreement on the route between Bangkok – Nagoya v.v.