Bangkok--22 Jun--Thai AirAsia The management of Thai AirAsia Co., Ltd. acquired today 100% of Asia Aviation Co., Ltd., which holds a 50% stake in the airline. The management includes Tassapon Bijleveld, Chief Executive Officer; Pornanan Gerdprasert, Chief Financial Officer; Tanapat Ngamplang, Director of Flight Operation; Preechaya Rasametanin, Director of Engineering; Bovornovadep Devakula, Director of Business Affair; and Santisuk Klongchaiya, Director of Commerce. Asia Aviation had been owned by Sitichai Veerathamanoon, who held 51%, and Shin Corporation PLC, which held 49%.The acquisition of Asia Aviation gives the management control of 51% in Thai AirAsia, with 50% held through Asia Aviation and 1% through Mr. Bijleveld. The acquisition was funded by a loan from Credit Suisse amounting to slightly less than 1 billion Thai baht. The management plans to issue shares in an initial public offering in the next three years in order to repay the loan from Credit Suisse. “I hope that this acquisition would send a message to the public that Thai AirAsia is not linked to politics, as it has always been said to be. We want to focus on business and to help grow tourism in the country. Everyone in management has entered into a huge debt, but we feel the need to do this for the sake of our employees and customers. I am sure that the public will understand our sincere and transparent intention,” said Mr. Bijleveld. For further information, MEDIA please contact: Desiree Bandal Corporate Marketing Executive International Public Relations Thai AirAsia My Office No : +662 791 4500 My Mobile No : +668 5048 4699 My Email : [email protected]