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Thai Airways and Tiger Airways Sign Shareholders Agreement

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 In accordance with the Memorandum of Understanding signed on 2 August 2010 between Thai Airways and Tiger Airways, the two parties have now signed the Shareholders Agreement necessary to establish Thai Tiger Airways Company Limited.

The incorporation of Thai Tiger will occur after the necessary investment approvals have been granted by the Thai authorities.

 RyanThai Limited is a co-investor in Thai Tiger. RyanThai will be represented on the Thai Tiger board by Mr. Declan Ryan. Mr. Ryan was one of the founding shareholders of both Tiger Airways and Ryanair.

 RyanThai will hold 10% of the paid-up share capital of Thai Tiger, and Tiger Airways will hold 39% of the paid-up share capital, while THAI will hold 49.9% of the paid-up share capital and Promoters (Thai individual shareholders) will hold 1.1% of the paid-up share capital.

Once Thai Tiger has been incorporated, a formal application for an Air Operators Certificate will be lodged.

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