• To create a national airline providing world-class service, the Thai government established Thai Airways Company Limited as a joint venture between Thai Airways Company (TAC) and Scandinavian Airlines System (SAS) with management and technical support from SAS.

      THAI was registered as a limited company in 1960 with initial registered capital of THB 2 million, with TAC holding 70 percent and SAS holding 30 percent.

    • The airline’s operations became highly successfully, with SAS transferring all its shares to TAC in 1977, ending the joint venture. More capital was then raised, with the Ministry of Finance taking over the new shares.

    • In April the Thai government under the premiership of General Prem Tinsulanonda merged the domestic commercial airline service with Thai Airways Company Limited under a cabinet resolution of the Ministry of Economic Affairs. This resulted in an increase in initial registered capital to THB 2,230 billion, with the Ministry of Finance as the major shareholder.

    • Due to business expansion, THAI was listed on the Stock Exchange of Thailand (SET) in July 1991. By converting its retained earnings to capital, the initial registered capital was increased to 13 billion baht. THAI also offered new shares worth THB 1 billion in 1992, THB 3 billion in 2003, and THB 4,838,709,670 in 2010.

    • In October THAI established Thai Smile Airways Company Limited, a wholly owned subsidiary with totally paid-up registered capital of THB 1.8 billion. Thai Smile Airways began operating from Suvarnabhumi Airport in April 2014 under the airline code WE, covering 10 domestic routes. Since October 25, 2014, Thai Smile has expanded its services to cover ASEAN routes as well as China, Taiwan, and India.