30 August 2000, Thai Airways International Public Company Limited held a Board of Directors’ Meeting, chaired by Mr. Mahidol Chantrangkurn, THAI’s Chairman, with the following results:
I. Airbus A300-600 Mock-Up Aircraft Visual System Modification
The Board of Directors approved the budget of 100 million baht for Airbus A300-600 Mock-Up Aircraft Visual System Modification in order to meet the international standard and to maintain the standard of THAI’s Pilot Training Course. The consideration will be through a close bid from 4 invited bidders.
II. Long-Term Finance for Boeing 777-300 Aircraft No. 5 and 6
The Ministry of Finance has approved of THAI’s plan to acquire Boeing 777-300 aircraft No. 5 and 6 through asset based financing loans, with US EXIM Bank and ECGD as the guarantors for payment of the loan. However, since processing of the loan would not be attained in time for aircraft delivery, the Board of Directors authorized for THAI to pursue bridge leasing with Boeing Commercial Airplane Group in time for delivery of the airline’s Boeing 777-300 aircraft No. 5 and 6. The action remains pending approval from the Ministry of Finance.
III. Selling of Airbus A310-204 Aircraft
The Board of Directors approved of the sale of the airline’s Airbus A310-204 aircraft, as well as the sale of spare parts and mechanical equipment of the Airbus A310-204 to Cabot Aviation Ltd., at a fair price.
IV. Approval for Purchase of Revenue Management System
The Board of Directors has approved the purchase of the Revenue Management System (Phase I) from PROS Revenue Management Inc., based on a budget of 92.2 million baht. Utilization of the Revenue Management System will aid THAI in the airline’s goal to increase revenues earned in transporting passengers. The system will assist in the accumulation of sales statistics from many sources in order to be analyzed with applied statistics and to forecast market demand in the future. The system will also assist THAI in estimating the level of passenger traffic for each flight, in hopes of maximizing company revenue.