• In 1960, the Thai government, co-funded by Siamese Airways Company Limited (“SAC”) and Scandinavian Airlines System (“SAS”), jointly established Thai Airways Company Limited (“TAC”) in order to set up a national airline providing world-class service with management and technical support from SAS. The initial objective was to operate business providing international flights services.

      On March 29, 1960, TAC was established with the initial registered capital of THB 2 million. 70% of total shares was held by SAC and the other 30% was held by SAS.

    • The business operation went successfully. After the establishment, on March 30, 1977, SAS transferred all of the shares held to SAC which results in the ceased of joint venture. TAC had increased its registered capital. Ministry of Finance had subscribed the newly issued shares and become the shareholder of TAC. On April 1, 1988, the Thai government under the premiership of General Prem Tinsulanonda had a cabinet resolution to merge the domestic airline business of SAC with the TAC’s business operation. As a result from the merger, TAC had its registered capital of THB 2,230 million, with the Ministry of Finance as a majority shareholder.

    • Due to the constant expansion of business, TAC was listed on the Stock Exchange of Thailand (“SET”) and became THAI in July 1991 by converting its retained earnings into the registered capital. This results in the total amount of registered capital of THB 13,000 million. In 1992, THAI had increased its registered capital for THB 1,000 million, THB 3,000 million in 2003, and THB 4,838,709,670 in 2010.

    • On October 17, 2013, THAI established Thai Smile Airways Company Limited, a wholly owned subsidiary with totally paid-up registered capital of THB 1,800 million. Thai Smile Airways began operating on April 10, 2014 routing from Suvarnabhumi under the airline code “WE”, covering 10 domestic routes initially. Since October 25, 2014, Thai Smile has expanded its services to cover Asean routes as well as China, Taiwan, and India.

    • As of December 31, 2019, THAI had its registered capital of THB 26,989,009,500 with THB 21,827,719,170 paid up. 53.16% of the total shares were held by Ministry of Finance and Government Savings Bank, and the rest, 46.84% were held by the public domestically and internationally, and including to THAI’s personnel.

      After its founding of an airline business, THAI gradually accumulated experiences and developed strategies in organizational administration until capital could be increased, then became a listed company. Today, THAI, as a state enterprise under the Ministry of Transport, operates its business by proving both commercial domestic and international air transport services at the principal office located in Bangkok Thailand by having a base operation at Suvarnabhumi Airport as its transport network hub. THAI provides the services of transporting passengers, cargo, and mails along with other related businesses which comprises of cargo terminal handling services, ground customer services, ground equipment, in-flight catering, and aircraft repair and maintenance.