Bangkok--29 Apr--Thai Airways International
Mr. Ampon Kittiampon, Chairman, Board of Director, Thai Airways International Public Company Limited, presided over the Company’s Annual General Shareholders’ Meeting 2010, with the attendance of THAI’s Board of Directors, Management and shareholders, whereby the following issues were discussed:
1. Operating Results for Fiscal Year 2009
At THAI’s Annual General Shareholders’ Meeting, it was reported that during fiscal year 2009 ending 31 December 2009, the Company’s total revenues amounted to THB 163,875 million, which was a decrease of THB 38,731 million or 19.1% from the same period last year. The main reasons for the decrease were the severe price war caused by the decline in air traffic demand as well as less fuel surcharge collected due to lower fuel price. However, expenses were THB 155,768 million, a decrease of THB 70,438 million, or 31.1% over the same period last year. The Company’s net profit was THB 7,344 million or THB 4.32 per share, compared to a net loss of THB 21,379 million or minus THB 12.58 per share over the same period last year. EBITDA was THB 30,297 million, which is THB 16,678 million higher than last year.
As of December 31, 2009, Thai Airways International Public Company Limited and its subsidiaries’ total assets were THB 271,694 million, an increase of THB 12,159 million or 4.7% from December 31, 2008. The Company’s total liabilities were THB 218,450 million, an increase of THB 4,797 million or 2.2% from December 31, 2008. The Company’s shareholders’ equity amounted to THB 53,244 million, an increase of THB 7,362 million or 16% compared to year-end 2008.
2. Distribution of Dividend
A dividend payment of THB 0.25 per share was approved at the AGM for 1,698,900,950 shares, totaling THB 424,725,237.50 or is 10.17% of 2009’s consolidated income before foreign currency adjustment. Dividend payment will be made to shareholders whose name appears on the list as of the Record Date of 2 April 2010 for rights to receive dividend payment. The dividend will be made on 27 May 2010.
3. The Increase in the registered capital of the Company
THAI’s Annual General Shareholders’ Meeting approved the increase in the Company’s registered capital from THB 16,989,009,500 to 26,989,009,500 by issuing up to 1,000,000,000 new ordinary shares at a par value of THB 10.
Capital raised is for:
1. Investments for business expansion and improvement to stay competitive in the long run
2. Possible enablement for the Company to have sufficient cash for repayment of debts in the coming due date
3. Strengthening the Company’s capital structure
4. Increasing liquidity to maintain financial stability and ensure financial flexibility during periods of high volatility of the airline business
This capital increase will result in a stronger capital structure for the Company, more liquidity, and sufficient capital to support both current and future business opportunities. This will enable the Company to better compete and sustain growth, which will add value for the Company’s shareholders.
4. Appointment of new Directors
1. Mr.Chaikasem Nitisiri
2. Mr.Weerawong Chittmittrapap
3. Mr.Kanit Sangsubhan
4. Mr.Apiporn Pasawat
5. Mr.Pravich Ratanapian
THAI’s Annual General Shareholders’ Meeting approved the appointment of the following persons to the Company’s Board of Directors, replacing retiring board members, as follows:
1. Mr.Chulasingh Vasantasingh Director
2. Mr.Weerawong Chittmittrapap Director
3. Mr.Kanit Sangsubhan Director
4. Mr.Apiporn Pasawat Director
5. Mr.Pravich Ratanapian Director
Attending THAI’s Annual General Shareholders Meeting were 2,861 shareholders, representing 1,417,064,764 shares.
Furthermore, during the past year, the Company received the following awards:
1. THAI was voted 2nd among the best Asian airlines from Go Awards by European passengers via the www.goasia.de website during October 2008 until February 15, 2009. THAI was also awarded 2nd among airlines with the best intercontinental services at the Grand Travel Award Ceremony, by more than 1,200 travel agents in Scandinavia.
2. THAI received the Platinum Brand Award for the 10th consecutive year from passenger votes through Reader’s Digest magazine poll for the most trusted airline.
3. Received a national award for high safety and hygiene in the work environment in 2009.
4. Received three outstanding airline awards in 2009 on the Travel Asia website, ranking in the top three for best in-flight service, best airline and best business class
5. Winner of National Software Development Award 2009 for the travel and hospitality category for the development of the Cabin Attendant Pre-Flight Study and Briefing System, enabling cabin crew to access various real-time flight related information on-line. This software allows flight crew to prepare for their flight duties beforehand via a high security internet network anywhere, anytime.
6. Received certification from the Federal Aviation Administration (FAA) of the United States of America for THAI’s ability to repair in-aircraft emergency equipment reflecting a quality of international standard maintenance capability by THAI’s Technical Department
7. The Catering Department received ISO 14001:2004 certification from the Bureau Veritas Certification (Thailand) on September 2, 2009.