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Today, Thai Airways International Public Company Limited held a Board of Directors’ Meeting, chaired by Mr. Thanong Bidaya, THAI’s Chairman, with the following results: 

Appointment of a Member to THAI’s Board of Directors

THAI’s Board of Directors approved the appointment of Air Chief Marshal Kongsak Vantana, Royal Thai Air Force Commander-in-Chief, who was selected as a Member of THAI’s Board of Directors following Mr. Wissanu Krea-ngam’s resignation due to his appointment as Deputy to the Prime Minister.

THAI’s Annual General Shareholders’ Meeting 2002

THAI’s Board of Directors approved the date for the next Annual General Shareholders’ Meeting 2002, on Friday, 20 December 2002 at 13.30 hours in the Auditorium at THAI’s Head Office, with the date established to close the register and suspend the transfer of shares for the purpose of determining the right to attend the meeting as from 12.00 hours on 2 December 2002 until THAI’s Annual General Shareholders’ Meeting comes to an end.

Establishing Corporate Good Governance

THAI’s Board of Directors agreed to the proposed processes and procedures leading toward the establishment of corporate good governance. The Committee on Good Governance proposed that the company conduct operations based on the processes and procedures set by the Ministry of Finance, complying with operational policy procedures set by the Stock Exchange of Thailand, in accordance with modern standards. The airline established 4 groups necessary for good governance, which are as follows: THAI’s Board of Directors, Senior Management, Middle Management, and Staff. It was also proposed that good governance should be applied in the following work processes: (1) Management systems that involve provision of customer services, (2) Systems with regard to appointment of Management and staff, as well as reward systems, (3) Systems concerning purchasing. THAI has plans to publicize the company’s good governance program, to increase employee and public understanding, awareness, and understanding about good governance.

In connection with the aforementioned work processes, THAI’s Board of Directors appointed the Remuneration Committee, committee members being as follows: 

1. Mr. Olarn Chaipravat - Chairman 
2. Mr. Viroj Nualkhair - Committee Member 
3. Khunying Sasima Srivikorn - Committee Member

THAI Seeks New Aircraft

THAI’s Board of Directors has approved the company’s plan to seek the purchase of 2 long-range aircraft Boeing B747-400, into its fleet, according to the aircraft acquisition plan previously approved by the Cabinet.