THAI Board of Directors Meeting Results

1.Operating Results for December 2012

The THAI Board of Directors acknowledged the Company's operating performance for December 2012 that continued to improve, with an increase in passengers carried from 1.87 million in November 2012 to 1.92 million in December 2012, or an increase of 2.7 percent and an 18.5 percent increase, compared to December 2011 when Thailand was affected by flooding.

In December 2012, the Company's Revenue Passenger-Kilometer (RPK) was 21.1 percent higher than the same month last year. Available Seat-Kilometer (ASK) increased 5.2 percent, resulting in an average Cabin Factor of 78.3 percent which was higher than December 2011 average at 68.1 percent. For THAI Smile, the cabin factor in December 2012 averaged 85.7 percent. THAI Smile Cabin factor on international routes averaged 87.5 percent and cabin factor on domestic routes averaged 84.9 percent. The Company's Cargo and Commercial Mail operations reported Available Dead Ton-Kilometers (ADTK) and Revenue Freight Ton-Kilometer (RFTK) up from the same month last year by 5.3 percent and 1.2 percent, respectively.

When comparing January-December 2012 to 2011, the Company's freight production was 0.5 percent less than the same period last year, and freight volume was 3.9 percent less than last year with an average freight load factor of 54.4 percent, which was 3.3 percent less than last year.

For the period from January to December 2012, the Company's cabin factor reached a high of 76.6 percent which was the highest in five years. Available Seat-Kilometer (ASK) was 0.9 percent higher than the same period last year and Revenue Passenger-Kilometer (RPK) was 9.8 percent higher than the same period last year.