Bangkok--31 May--Thai Airways
Thai Airways International Public Company Limited (THAI) is among the 21 airlines that the Korea Fair Trade Commission (KFTC) had chosen to investigate in regard to the alleged anti-competitive activities in setting surcharges for airfreight transportation on the routes to and from Korea.
Mr. Niruj Maneepun, THAI Legal and Compliance Vice President, announced that last Thursday, 27 May 2010, the KFTC made a press release in Korea announcing its decision to impose a fine of KRW 2,784,000,000 (or approximately THB 82,000,000) in penalty charges, but dropped all criminal prosecution charges against THAI and its employee. In this regard, the KFTC requires THAI to make payment on the fine (which is already covered in the THAI reserve) within 60 days after THAI has received official notification of the decision by KFTC.
As THAI has not received the official notification of the decision by KFTC, which contains the full findings and analysis, THAI is not in a position to comment on the substance of the decision or to consider appealing such decision to the Court at the moment. Upon receiving the official decision, THAI shall review and seek advice from its legal counsel on the merits of appealing the decision.