29 May 2002, Thai Airways International Public Company Limited held a Board of Directors’ Meeting, which was chaired by Mr. Srisook Chandrangsu,  THAI’s Vice Chairman with the following results:

1. Appointment of THAI’s Director: The Board of Directors approved the appointment of THAI’s President, Mr. Kanok Abhiradee, as a Director and Secretary to the Board of Directors with immediate effect.

2. Purchase of Airbus A300-600 aircraft:
THAI’s Board of Directors approved the purchase of Airbus A300-600 aircraft (no.6, registeration HS-TAF, MSN 398) at the end of the current lease contract in December 2002, in accordance with provision of the contract. THAI is required to inform the leasing company by 18 June.

The purchase is beneficial to THAI as there is still a demand for this type of aircraft in THAI’s fleet and the cost of re-purchase of the aircraft is much lower than the estimated market price.

3. Selection of Bank for Payment of Boeing 747-400 Aircraft:
THAI’s Board of Directors agreed to appoint the Standard Chartered Bank to seek long-term Asset Based Financing supported by US Eximbank for payment of two Boeing 747-400 aircraft number 15 and 16 in Japanese Yen equivalent to USD 262.6 million on condition that THAI receives government approval.

4. Special Offer for Disabled Persons and Their Caregiver:
The Board of Directors approved a 50 percent discount on normal economy class fare for disabled passengers of Thai nationality and 25 percent discount for their accompanying caregiver.  They are required to show ID certifying their disability plus a letter from a doctor or appointed authority certifying their need for an accompanying caregiver. One caregiver is allowed per disabled passenger, both of whom must travel together only on domestic routes to which THAI operates.

5. Establish Project Coordination Function at Suvarnnabhumi Airport:
The Board of Directors approved the appointment of a project coordination function for THAI’s projects at the new Bangkok Airport (Suvarnnabhumi Airport), which will be under the supervision of an Executive Vice President and is required to report directly to the President.

THAI’s Management has proposed the setting up of this special function to concerned government units.  Selection procedures are required for the appointment of an Executive Vice President to supervise this function.

6. Hiring a consultant to adjust salary structure linked to work performance indicator:
The Board of Directors agreed to hire a consultant to adjust the salary structure that has been in place for seven years.  In addition, there are more positions available at THAI due to recent structural changes, creating the airline into supporting business units.  Due to rapid technological development, THAI needs more highly paid specialists in various fields.  It is therefore necessary for THAI to adjust its salary structure in order to develop higher business capability according to strategic plans, while boosting staff morale.

7. Passenger Services Equipment:
The Board of Directors approved the purchase of passenger services equipment including ramp buses, unit and meal carts and passenger steps in order to increase ground/ramp and inflight services efficiency.

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