Thai Airways International Public Company Limited (THAI) held a Board of Directors’ Meeting chaired by Mr. Ampon Kittiampon , THAI Chairman, at THAI Head Office with the following announcements.

Operating Results for March 2011

The THAI Board of Directors acknowledged the operating results for March 2011 as follows:

Available Seat-Kilometer (ASK) for March 2011 was 3.3% higher than in March 2010, and was 10% higher than in February 2011. Revenue Passenger-Kilometer (RPK) for March 2011 was 4.3% lower than in March 2010, and was 3.5% higher than in February 2011.   Cabin Factor for March 2011 averaged at 73%, which was 7.4% lower than in March 2010.

For the period from January to March 2011, the Available Seat Kilometer (ASK) was 2.8% higher than the same period the previous year, and was 0.8% lower than Fourth Quarter in 2010.   The Revenue Passenger Kilometer (RPK) was 3.5% lower than the same period in 2010, and was 2.2% higher than Fourth Quarter 2010.   The Cabin Factor averaged at 76.1%, which was 6.1% lower than the same period in 2010, and was 3% higher than Fourth Quarter 2010. 

Available Dead Load Ton-Kilometers (ADTK) for March 2011 was 15.8% higher than in March 2010, and 16.8% higher than February 2011. Revenue Freight Ton-Kilometers (RFTK) for March 2011 was 9.1% higher than in March 2010, and was 23.9% higher than February 2011. Freight Load Factor for March 2011 averaged at 60.1%, which was 6% lower than March 2010, and was 6.2% higher than February 2011.

Available Dead Load Ton-Kilometers (ADTK) for January to March 2011 was 12.5% higher than the same period in 2010, and 4.3% lower than Fourth Quarter 2010.   Revenue Freight Ton-Kilometers (RFTK) for January-March 2011 was 7.4% higher than the same period in 2010, and 9.9% lower than Fourth Quarter 2010.   Freight Load Factor for January -March 2011 averaged at 56.9%, which was 4.6% lower than the same period in 2010, and was 5.9% lower than Fourth Quarter 2010.

Passenger Aircraft Conversion to Cargo Freighter

The THAI Board approved Boeing for the aircraft conversion of the two Boeing 747-400 passenger planes into cargo freighters.   Boeing will deliver the two converted aircraft to THAI in March and April 2012.

Short-term Aircraft Lease

THAI’s Board approved the short-term lease of two Boeing 777-300ER aircraft from Jet Airways (India) Limited (Jet Airways). The lease agreement will be valid for two years with the aircraft to be delivered in October and November 2011.

The newly leased aircraft will be in service during the period when two Boeing 747-400 aircraft undergo conversion into freight aircraft, and when other passenger aircraft are undergoing cabin interior retrofitting.

The two, newly approved, Boeing 777-300ER aircraft are of the same type and model, and fitted with the same in-flight entertainment system as the three aircraft that THAI has been leasing from Jet Airways since 2010.   Each leased aircraft is configured with three cabin classes, with a total of 312 seats – eight seats in Royal First Class, 30 seats in Royal Silk Class, and 274 seats in Economy Class. 

Bangkok Bank Loan Interest Rate Discount

The THAI Board of Directors acknowledged and approved the results of the negotiation with Bangkok Bank for a further reduction in the interest rate on THAI’s 8 billion baht loan.