http://www.thaiairways.com/about-thai/investor-relations/en/investor.

html

THAI AIRWAYS INTERNATIONAL PLC. Company Visit Q1/2011

LAN 3G/4G xDSL

Investor Relations Department

DISCLAIMER
The information contained herein is intended to represent the Companys operating and financial position at a given point in time and may also contain forward looking information which only reflects expectations based on the prevailing geo-political, economic and non-controllable factors. Such information has been obtained from sources believed to be most reliable and the means in analyzing and preparation of such information for disclosure are based on approved practices and principles in the investment industry. The views are based on assumption subject to various risks and uncertainties and no assurance is made as to whether such future events will occur, that projections will be achieved, or that the assumptions here-in are correct. Consequently no assurance is made as to the accuracy or completeness of information presented in this document. This document should not be construed as an investment guide or as an offer or solicitation of an offer to buy or sell the Companys stock.

Investor Relations Department

THAI in 2010
MTHB Assets Total Revenue Net Profit 293,760 180,588 15,398 USD mn Equiv. 9,792 6,020 514 % Change 8.1 11.7 107.6

# of Aircraft Destinations Served Countries Served *Excluding 6 B 737-400 leased to Nok Air

90* 72 35

Million Passengers carried (# of people) Available Seat Kilometers (ASK) Freight Transport (tons) Available Ton Kilometer (ATK)
3

% Change -1.7 +5.9 +30.8 +38.4

Investor Relations Department

18.2/annum 55,676 713.9 /annum 2,895

Factors of Concern
Factors Affecting Aviation Business
Rapid Rise in Fuel Price

Natural Disasters

Rate of Economic Growth

FX Fluctuation

EU Carbon Emissions Guideline

THAI is taking precautionary actions to mitigate all risk factors

ASEAN Open Sky and Liberalization Policy

Competition from LCCs and Traditional Airlines Availability of New Aircraft Acquisition, Aging Fleet & Seat New Aircraft Technology /Trend
4

Health

Politics

Investor Relations Department

Operating Summary

Units Passenger Production Passenger Traffic Cabin Factor Avg. Passenger Yield
Note : Yield includes fuel surcharge

Jan-Mar11 19,571 14,881 76.0 2.77

Jan-Mar10 19,045 15,425 81.0 2.64

% Change +2.8 -3.5 -6.1 +4.9

MASK MRPK % THB/km

Freight Production Freight Traffic Freight Factor Avg. Freight Yield

Note : Yield includes fuel surcharge

MADTK MRDTK % THB/km

1,233 698 56.6 9.67

1,096 653 59.6 9.27

+12.5 +7.0 -4.9 +4.3

Avg. Fuel Cost

USD/gallon

2.85

2.13

+33.8

Investor Relations Department

Financial Performance EBIT, EBITDA and Net Profit (Q1/2010 & Q1/2011)
Units : THB mn

12,000 10,000 8,000 6,000 4,000 2,000 EBIT 6,037 4,960

11,252 9,755 10,572

Factors Impacting Q111 Results

Stronger contribution from freight business Higher average PAX yield
4,874 3,976 618

Effective fuel hedging policy Impact from Japan High fuel price

EBITDA
Q1'10

Net Profit
Q1'11

Net Profit
(Exclude FX)

Lower # of passenger

Investor Relations Department

Rising Fuel Cost

Price of Jet Fuel (US$/bbl)
(Singapore Spot Price) 150 140 130 120 110 100 90 80 70 60
Jan-10 Mar-10 May-10 Jul-10 Sep-10
7

Average for 2008

Nov-10

Jan-11

Mar-11

May-11

Investor Relations Department

Fuel surcharge now covers fuel cost

Investor Relations Department

RPK is slightly higher than last year

DAILY REVENUE PASSENGER KILOMETRE (RPK)
(7 Days Moving Average up to 23 May 2011)
190,000,000 180,000,000 170,000,000 160,000,000 150,000,000 140,000,000 130,000,000 120,000,000 110,000,000 100,000,000
1-Jan 1-Feb 1-Mar 1-Apr 1-May 1-Jun 1-Jul 1-Aug 1-Sep 1-Oct 1-Nov 1-Dec

RPK%YoY
Apr. +8.0% 1-23 May +14.6% YTD +0.8%

2009 2010 2011

Investor Relations Department

Change in RPK by Region (%YoY)

Africa,ME
Total

Domestic Indo China Western Southern Northern

North Pacific

Europe

Australia

Others

%RPK/day Jan-Apr 11

100.0%

5.7%

1.1%

7.2%

4.3%

23.6%

2.8%

39.3%

12.2%

3.8%

%YoY growth
Jan-11 Feb-11 Mar-11 Apr-11 1-23 May-11

-3.1% -3.0% -4.4% 8.0% 14.6% 0.8%

-15.7% -16.1% -12.7% 5.8% 16.0% -8.7%

0.7% 8.3% 1.5% 18.8% 20.1% 8.2%

-5.6% 3.1% 4.7% 5.1% 9.7% 2.7%

1.8% 2.1% 10.3% 24.2% 41.2% 13.6%

10

1.8% 1.7% -2.7% -1.8% 21.4% 2.3%

4.9% 4.3% 3.7% -4.8% 8.0% 2.8%

-5.2% -5.4% -6.6% 10.3% 3.7% -1.7%

-3.1% -3.5% -13.3% 6.9% 21.3% -0.4%

9.6% -6.3% 12.7% 63.7% 61.7% 20.7%

YTD

Investor Relations Department

Competitors Have Increased Significantly

Traditional full service airlines

Newly established full service airlines

11

Low Cost Carriers

Investor Relations Department

Asia is No Different. International Destinations International Destinations Domestic Destinations Domestic Destinations
Chiang Rai

Tokyo Osaka

Guilin Guangzhou Taipei Shenzhen Kaohsiung Hong Kong Macau Haikou Luzon Is Manila

Air Asia Tiger Jetstar Dragon Nok Air

Chiang Mai

Made by Ake

Udorn Thani

Dhaka Vientiane Chiang Mai Hanoi Rangoon Chennai Bangalore Tiruchirapalli Bangkok

Made by Ake

Made by Ake

Colombo

Krabi Phuket Hat Yai Banda Aceh Kota Kinabalu Langkawi Tawau Medan Bandar Seri Begawan Penang Kuala Lumpur Miri Kuching Johor Bahru Manado Singapore Pekanbaru Padang Palembang Ujung Pandang Solo City Jakarta Surabaya Bandung Yogyakarta Denpasar Bali

Siem Reap Ho Chiminh city Phnom Penh

Ubon Ratchathani

Made by Ake
Bangkok

Made by Ake

Darwin Cairns

Surat Thani Brisbane Gold Coast

Made Nakhon Si Thammarat by Ake

Phuket Auckland Krabi Trang Had Yai

Perth

Sydney Melbourne

Christchurch

Narathiwat

12

Investor Relations Department

Market Share of LCCs Up Dramatically Domestic Market

Mn Passengers Mn Passengers Market Share Avg. Growth Rate (2003-2010) Market Share

Regional Market
Avg. Growth Rate (2003-2010)

15

25

15.0%
10

20

7.4% Others
15

47.6%

4.4%

Others 45.2% 16.2% LCCs

10

32.4%

55.7% LCCs 2.1% 19.1% 46.8%

THAI Airways 83.8%

0

39.8%

-2.3%
0

42.2%

THAI Airways

33.2%

3.2%

2003

2010

2003

2010

13

Investor Relations Department

New Strong Competitors from Middle East

Middle East HUB Emirates Qatar Etihad

14

Investor Relations Department

Competitors Fleet Expansion Plan

Competitors Fleet and Expansion Plan
Number
400 350 300 250 200 150 100 50 0

Awaiting delivery Existing

A380

es atar irat Q Em
15/75 -/5

d tiha E
-/10

re y ia m apo Catha lays ietna HAI g a n M V Si T

11/8
15

Existing/Awaiting delivery

-/6

-/4

-/6
Investor Relations Department

Overarching Strategic Plan

2013-2017 2012 2011 2010

Build strategic competitiveness Seek growth opportunities

Ensure strength and stability

2009
Strengthen internal organization Build operational stability

e alu er V om s ust nes C e size petitiv ha mp Com mism -E re a nsu Dyn E re nsu -E

16

Investor Relations Department

Strategic Roadmap Overall Strategic Roadmap

Core Value
Striving together towards a strong and sustainable THAI
1 2

Strategic Transformation Areas Corporate Portfolio Strategy Customer Value Strategy

Ultimate Goal Restore THAI to be the pride of Thailand around the world, as a leading Asian carrier that is consistently among the top 3 carriers in Asia and top 5 in the world for overall customer experience
Investor Relations Department

Customeroriented

3 Route Network and Fleet Strategy 4 5

Commercial Strategy Corporate Social Responsibility Strategy IT Strategy

Competitive

Efficiency, Flight Safety 7 and Fuel Management Strategy

Dynamic

8 9

Human Capital & Organization Effectiveness Strategy Financial Strategy

17

Awards and Accolades

To Be Top 3 in Asia and Top 5 in the World
The Worlds Top 10 Airlines Skytrax 2010
1 2 3 4 5 6 7 8 9 10

Other Awards in 2010 Change

Skytrax Best Airline Lounge First Class Best Airport Services

2009
3 2 4

Norwegian Grand Travel Award 1 8 7 Business Travelers Award 6 5 10 9 TTG Award Best Business Class Best Ground Service Best Lounges Best Intercontinental Airline

Source: Skytrax
18

Best Southeast Asian carrier

Investor Relations Department

THAI Portfolio Specific Cost Base

Product by Cost Base
Brand Brand positioning Required cost base

MEDIUM to HIGH Premium network carrier

Minor improvements could be made in cost efficiency

LOW to MEDIUM Regional carrier

Low cost base achieved through aspects of LCC model, such as single aircraft type, new fleet, etc.

LOW to MEDIUM Domestic value-for-money carrier

Focus on Domestic and provides additional value while maintaining very low cost

Regional Ultra-low cost carrier

Source: Team discussion and analysis
19

LOW to ULTRA LOW

Requires all trade-offs to reduce cost (max seat density, max utilization)
Investor Relations Department

Competition for THAI Wing

Low-cost carriers
Source: Team discussion and analysis

Regional FSC

Full-service carriers

20

Investor Relations Department

THAI Connecting Traffic

Thai to build short-haul and regional network strength to capture connecting traffic from Europe, Australia, and the Middle East
Selected Kangaroo routes for the ME carriers and THAI (2009)
London THAI Emirates Sapporo Nagoya Tokyo Haneda Bahrain Doha Abu Dhabi Dubai Fukuoka Etihad Qatar Gulf

Bangkok

Intercon trunk routes will be weakened if THAI is uncompetitive in regional connections

Singapore

Cost competitiveness is key to developing a robust regional connection to Southeast Asia from Europe, Australia and the Middle East

Brisbane Perth Sydney Melbourne

Source: Team discussion and analysis

21

Investor Relations Department

Building Customer Value

Enhancing and improving products and services at all touch points to ensure consistent quality service.

22

Investor Relations Department

Product & Service Enhancements

Call Center Call Center Food & Beverage Food & Beverage Increase Selection of Increase Selection of Entertainment Entertainment

Minimize Time for Baggage Minimize Time for Baggage Claim Claim Premium Lounges Premium Lounges Royal Orchid Plus Royal Orchid Plus

23

Investor Relations Department

Enhance E-Service Capability

E-Service on Mobile E-Service on Mobile Internet Booking Internet Booking

Internet check-in with Internet check-in with home print boarding pass home print boarding pass

E-Payment Services E-Payment Services

24

Investor Relations Department

Statistic on Internet Check-in

Ticket Sales Via Internet

% %
7

Check-in via Internet

10 9 8 7 6 5 4 3 2 1 0
Ja n Fe b M ar A pr M ay Ju n Ju l A ug Se p A ug N ov D ec

Year 2011

Year 2010
6 5 4 3

Year 2011

Year 2010

Year 2009

Year 2009
2 1 0
Fe b Ju n Ju l pr M ay Se p M ar ug Ja n ug A ov N A A D ec

25

Investor Relations Department

Deliveries Over the Next 3 Years

2011 A380-800 B777-300ER A330-300 5* + 2 7 2012 3 2 3 8 2013 3 6 2 11 Total 6 8 12 26

Total

*Note : the 5 A330s deferred arrival is included in 2011s delivery plan

00 A380-8
First Class Seats Business Class Seats

26

Investor Relations Department

Resolving Koito Seat Problem

A330-300

Zim will be providing economy class seats and enabling the 5 new A330-300 aircraft to join the fleet in the following months.

Delivery

March

April

May

June

July

27

Investor Relations Department

Upgrades and Retrofit Schedule

# of Aircraft

First

Business
ed fitt tro d tte ofi tr

Economy

Tentative Completion

B777-300 B747-400 No. 7-12 B777-200 B747-400 No. 13-18 Airbus 340-600 Airbus 340-500 B777200ER

6
d itte rof t

Re

Completed May Dec. 2011 Sept. 2011 Jun. 2012 Feb. 2012 Oct. 2012 2013 2014 2014

6 8

Re

Re

d itte rof t Re

28

Investor Relations Department

Long-term Fleet Strategy

2011-2013
Medium sized body aircraft Narrow body aircraft Total
Age : yrs

2014-2017
26 11 37

2018-2022
21+17 = 38 38

Total
47 + 17 = 64 11 75

Avg. F leet Ag e to Dr op

to 7.6

yrs.

29

Investor Relations Department

2011 Route Network Changes

Changes were made to better reflect customer demand
Increased flights
Suspension routes
Paris Oslo Moscow Nagoya Fukuoka 7 to 10 flts/wk 5 to 7 3 to 4 7 to 10 5 to 7

New Destinations
Haneda BKK-Gaya-Varanasri 3 flts/wk 7 flts/wk

Relaunch
Johannesburg
30

4 flts/wk
Investor Relations Department

Further Cost Control Measures

THAI is committed to achieving the THB 20,000 mn cost reduction target agreed to with the Ministry of Finance through 2012
THB mn

2010 Expense Compared to Budget

93,147 96,614 3,467 mn baht or 3.6% below budget

Strategy to Reign in Costs

Improved fuel management Increased proportion of ticket sales via internet & minimize commission payment Launched early retirement program / Mutual separation plan / Continue to offer Golden Handshakes / Use of Wingspan / Manage reduction in crew accommodation cost Reduction of management & admin. expense Continued to negotiate with all suppliers No pay leave project Changed approach in undertaking marketing and advertising initiatives

100,000

80,000

60,000

2010

Budget

Yearly Cost Reduction Targets

THB mn

12,000 8,000

THB
3,215

n 0m 0,00 2
6,897

10,697

4,000 0
2010 2011 2012

Was able to reduce non-fuel related cost by THB 252 mn or a 7.8% reduction
31

Investor Relations Department

Fuel Management
Minimum 20% fuel hedging requirement to mitigate risk of rapid fuel cost rise Minimum 20% fuel hedging requirement to mitigate risk of rapid fuel cost rise
Hedging Volume

>80%

Board Authority Fuel Price Risk Management Committee

>60<=80%

(President, EVP Finance & Accounting, VP, Director and Department)

>30<=60%

VP, Director and Department Level Decision

>20<30%

<=20%

Board Authority

1m

2m

3m

4m

5m

6m

7m

8m

9m

10m 11m 12m 13m 14m 15m 16m 17m 18m >18 months
Contract Period
32

Investor Relations Department

Jan-08 0% 0%

Jan-08
57% 65% 62% 56% 51% 51% 61% 65% 69% 72% 72% 63% 123% 131% 163% 199%

Feb-08 Mar-08 Apr-08

17%

Mar-08 0% 0% 3% May-08

May-08
38% 41% 44%

Jul-08

Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09
143% 116% 82% 102% 91% 118%

Sep-08 44% Nov-08 49% 35% 27% 20% 23% 3% 3% 7% 13% 13% 17% 20% Nov-09 27% 30% 44% 44% 44% 47% 47% 47% 69% 69% 69% Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 19% 19% 19% 69% 69% 69% 51% 51% 51% 50% 50% 50% 59% 59% 59% Jan-10 Mar-10 May-10 Jul-10 Jan-09 Mar-09 May-09 Jul-09 Sep-09

Percentage of Fuel Surcharge & Hedging Coverage

Monthly fuel hedging 2008-2011 - % of consumption by month

Hedging combined with fuel surcharge greatly mitigates fuel price fluctuation risk

33

Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Aprl10 May10 Jun10 Jul10 Aug10 Sep10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11

112% 102% 110% 104% 116% 98% 74% 94% 106% 111% 103% 109% 101% 102% 98% 87% 88% 73%

Fuel Management

Investor Relations Department

Emissions Control
THAI is the first Asian airline to sign an agreement with IATA to find means to mitigate fuel
1st airline
Determined the carbon foot print of 2 meals and provided labeling for customers to choose

Carbon Footprint Carbon Footprint

Emissions Trading Emissions Trading 2012

Carbon Offset Carbon Offset

Monetary Value

Amount of CO2 ~1.07 mn tons THB 646 mn

CERs 0.47 mn tons THB 239 mn EUAs 0.60 mn tons THB 407 mn Launched the carbon offset program
Investor Relations Department

34

Improvements in Dynamism Project

Uphold the principles of Good Corporate Governance Facilitate means to expedite decision making

Changes Made
Ensuring transparency in all areas of operations Whistle Blower Policy

Reduce steps to improve decision process

IT capability improves not only efficiency, decision making but also enhances customer satisfaction

Invest in IT Performance-based Culture

Senior management having clear cut KPIs and compensation is measured accordingly Geared for BUs to enhance efficiency in decision process & management Signed Service Level Agreements

Structural change to enhance flexibility but also responsibility

35

Investor Relations Department

Pending Legal Issues

EC US Cargo DOJ US Cargo Class Action Korea

Rescinded all charges against THAI Stopped further proceedings Settled by paying USD 3.5 mn Pending charges is for KW 2.85 mn

Wrote back a portion of reserves that were set aside

4,290 MTHB 2,507 MTHB

36

Investor Relations Department

Improved Capital Structure

Improved Cash Position
Cash to Total Revenue

Raised 15,000 MTHB Raised 15,000 MTHB in new equity in new equity Received additional Received additional borrowing from financial borrowing from financial institutions institutions Obtained Revolving Obtained Revolving Credit Lines Credit Lines 8,000 MTHB Debenture 8,000 MTHB Debenture issued in May 13, 2011 issued in May 13, 2011

2008

2009

2010

Capital Structure Strengthened

Net interest bearing Debt to Equity
5 4 3 2 1 0

3.04

2.66 1.30 1.45

2008
37

2009

2010

Q12011

Investor Relations Department

Resulting Success
THAIs share price reflects the confidence in the improved health of the Company Share price
THB/share 60 55 50 45 40 35 30 25 20 15 10 5 0
MSCI = Morgan Stanley Capital International

Drafted & implemented strategies under TG 100 Implemented recovery plan

Success recapitalization

peaked at THB 57.75 upon being inducted back into the MSCI

Cash flow crisis

Fuel price 103.61 USD/bbl @ 20 Apr. 11

@ 9 Dec. 10

137.57 USD/bbl

/09 4/1

/09 4/4

/09 4/7

/09 /10 4

/09 4/1

/09 4/4

/09 4/7

/09 /10 4
38

/10 4/1

/ 4/4

10

4 /7

/10

4 /1

0 0/1

4 /1

/11

4 /4

/11

Investor Relations Department

Financial Performance

39

Investor Relations Department

Financial Performance Performance Summary (Q1/2011)

THAI and its subsidiary

Jan-Mar (Units : MTHB) Total Revenue Total Expense Foreign currency exchange (Gain) Share of losses of investments by the equity method Profit(Loss) before finance costs, income tax Financial Cost Income tax expense Net profits (losses) Profits (losses) Attributable to: Non controlling interest Equity holders of the parent 2011 51,851 -46,468 -3,358 38 2,063 -1,309 -121 633 -15 618 2010 49,806 -43,061 5,698 -7 12,436 -1,345 -499 10,592 -20 10,572

40

Investor Relations Department

Financial Performance Ratios Q12010 & Q12011

Ratios
Earnings Per Share EBIT EBITDA EBITDAR Book Value Book Value per Share Total Debt to Equity Net Debt to Equity Debt Service Coverage Interest Coverage Operating Profit Margin Net Profit Margin EBITDA Margin Return on Total Assets Return on Total Equity

units
(THB) (MTHB) (MTHB) (MTHB) (MTHB) (THB) (Times) (Times) (Times) (Times) (%) (%) (%) (%) (%)

Q110
6.22 6,037 11,252 11,750 63,670 37.48 3.90 2.35 2.00 8.40 12.30 21.60 23.00 3.80 20.10

Q111
0.28 4,960 9,755 11,191 76,712 35.14 2.80 1.88 1.50 7.50 9.70 1.20 19.10 0.80 0.20
Investor Relations Department

41

Industry Outlook

Economic & Airline Industry Trend and Growth for 2011-2012

Global Economy expected to grow by 5% - IMF Global # of Tourists expected grow by 4-5 - UNWTO Passenger Traffic expected to grow by 5.2% - IATA Air Traffic Transportation expected to grow by 5.5% - IATA

42

Investor Relations Department

Industry Outlook
Passenger from / to Thailand Forecast 2011-2017
IATA International Passenger Forecast 2010 (As September 2010) World 7.9% Asia Pacific 11.6% Actual Estimate 2011-2017 International 5.5 % Regional 5.5 % Intercont. 5.5 % Domestic 4.2 %
6.3% 37.2M

Thailand Passengers (Millions)

2011 4.9% 7.2%

2012 5.4% 6.9%

2013 5.4% 6.5%

2014 CAGR2011-2014 5.4% 5.3% 6.1% 6.7%

TG Forecast

50 45 40 35

5.2%

48.0M

Inter. 3.2%

30 25 20 15 10 5
9.9M 5.3M 25.9M 20.6M

8.8% 32.9M 30.3M 6.3% 8.5% 25.5M

5.2%

37.2M

Reg. 2.7%
23.5M

28.8M

Dom. 5.2%
12.7M

2.8% 13.1M 9.7% 7.5M

4.6% 14.3M 6.0% 8.4M

4.0 % 5.3%

17.4M

Intercont. 5.0%
6.8M

10.8M

0 03/04

04/05

05/06

06/07

2008

2009

F 2010 F 2011 F 2012 F 2013 F 2014 F 2015 F 2016 F 2017

43

Investor Relations Department

Appendix

44

Investor Relations Department

Operating Statistics
Passenger Carried
(000)

Year 2010 = 18.2 million (decreased 1.7% YoY) Q1/2011 = 4.9 million (decreased 5.5% YoY)
Year 2010 Year 2011
4,833 4,923

Year 2009
4,684 4,114 4,589 5,088 5,167

6,000 4,000 2,000 -

3,662

4,371

Q1'09

Q2'09

Q3'09

Q4'09

Q1'10

Q2'10

Q3'10

Q4'10

Q1'11

Freight Carried
(Tons)

Year 2010 = 713,931 tons (increased 30.8% YoY) Q1/2011 = 172,749 tons (increased 4.0% YoY)
Year 2010
167,341 179,329 166,155 180,341 188,109

Year 2009

Year 2011
172,749

190,000 160,000 130,000 100,000 Q1'09 Q2'09 Q3'09 113,735 124,819 140,889

Q4'09

Q1'10

Q2'10

Q3'10

Q4'10

Q1'11

45

Investor Relations Department

Operating Statistics
Passenger
(Million)

Year 2009
75.2 77.2 76.8 75.1 77.0 82.0 82.3 78.8 74.0 76.1 74.3 71.3 71.1 72.1

Year 2010
76.3 74.3 75.3 77.8 74.6 73.1 71.8

Year 2011
77.6 73.0 71.8 63.2
(E)

(%)

56.7

62.2

65.1

65.3

8,000 6,000 4,000

100.0 80.0 60.0 40.0

2,000 Oct-09 Nov-09 Oct-10 Nov-10 Dec-09 Dec-10 Jan-09 Jul-09 Jan-10 Jul-10 Feb-09 Jun-09 Feb-10 Aug-09 Jun-10 Jan-11 Aug-10 May-09 May-10 Feb-11 May-11 Sep-09 Apr-09 Sep-10 Apr-10 Mar-09 Mar-10 Mar-11 Apr-11

20.0 -

ASK

RPK

C/F

YoY (Month) May'11(E) May'10 YoY% 6,505 6,171 5.4 MASK 4,111 3,497 17.6 MRPK 63.2 56.7 11.5 Cabin factor%
* (E) = Estimate

YoY (Quarter) Q1'11 Q1'10 YoY% 19,571 19,045 2.8 14,881 15,425 3.5 76.0 81.0 6.1

YoY (Year) Year'10 Year'09 YoY% 75,600 72,031 5.0 55,676 52,593 5.9 73.6 73.0 0.9
Investor Relations Department

46

Operating Statistics
Freight
(Million)

Year 2009
63.9 62.4 61.8 59.3 60.5 58.8 58.3 54.4 52.4

Year 2010
66.9 65.0 60.8 57.9 61.3 62.2 62.5 60.4 53.7

Year 2011
57.5 (E) May-11 60.1 58.0 56.6

(%)

600 49.7 47.9 51.8 40.2 44.5 46.1 50.6

80.0 60.0 40.0

400

200 20.0 Nov-09 May-09 Dec-09 May-10 Nov-10 Apr-09 Dec-10 Apr-10 Aug-09 Aug-10 Mar-09 Mar-10 Jan-09 Mar-11 Sep-09 Jan-10 Sep-10 Jan-11 Jun-09 Jun-10 Apr-11 Feb-09 Feb-10 Feb-11 Jul-09 Oct-09 Jul-10 Oct-10 -

ADTK

RFTK

F/F

MADTK MRFTK Freight Factor%

* (E) = Estimate

YoY (Month) May'11(E) May'10 YoY% 414 378 9.5 238 253 5.9 57.5 66.9 - 14.1

YoY (Quarter) Q1'11 Q1'10 YoY% 1,233 1,096 12.5 698 653 7.0 56.6 59.6 -4.9

YoY (Year) Year'10 Year'09 YoY% 4,708 4,016 17.2 2,895 2,092 38.4 61.5 52.1 18.0

47

Investor Relations Department

Operating Statistics
Passenger Yield (Including Fuel Surcharge)
(THB/Km)

2.72 2.73 2.87

2.49 2.63 2.82

2.54 2.54 2.70

2.21 2.42

2.30 2.45

2.32 2.44

2.44 2.55

2.50

2.00 Jan Feb Mar Apr May Year 2009 Jun Jul Year 2010 Aug Sep Oct Nov Dec Year 2011

Passenger Yield (Excluding Fuel Surcharge)

2.05 2.16 2.42 2.13 2.23 2.41 2.22 2.26 2.42 2.08 2.07 2.36 2.02 2.12 2.50 2.00 1.50 1.00 Jan Feb Mar Apr May Jun Jul Year 2010
48

1.90 2.03

1.81 1.99

1.92 2.01

2.05 2.11

Aug

1.85 1.97

Sep

Oct

2.14 2.16

Nov

Year 2009

Year 2011
Investor Relations Department

2.35 2.29 Dec

(THB/Km)

2.27 2.40

2.51 2.56

2.64 2.60

3.00

2.56 2.68 2.78

2.84 2.72

Operating Statistics
Freight Yield (Including Fuel Surcharge)
9.74 9.66 9.70 9.17 9.89 8.50 9.30 9.65 8.88 9.84 8.71 9.08 9.45 9.35 9.65
(THB/Km)

9.85

9.65

8.90 9.53

8.02 9.10

10.00 9.00 8.00 7.00

Jan

Feb

Mar

Apr

May Year 2009

8.19

Jun

Jul Year 2010

8.61 9.30

Aug Year 2011

Sep

9.04 9.37

Oct

Nov

Freight Yield (Excluding Fuel Surcharge)

7.72 7.33 7.08
(THB/Km)

7.47 7.51

7.13 7.44 6.77

6.98 7.30

7.01 7.37

8.00

6.62 6.96 7.02

6.67 7.18

7.01 6.91 6.94

7.08 7.12

7.48 7.42

7.53 Dec 7.01

7.00

6.00 Jan Feb Mar Apr May Jun Jul Year 2010
49

6.69 6.89

Aug Year 2011

Sep

Oct

Nov

Year 2009

Investor Relations Department

9.43 9.44 Dec