Message from Chairman

Towards Building our Sustainable Culture

We are creating a culture of Sustainability within our organisation where ESG principles are integrated into corporate culture and every step of our decision-making process. We strive to balance our commitment to long-term sustainability with operational efficiency even as we continue our financial recovery.

At Board level, we have established a regular agenda in the Board meetings to stay informed about ESG developments, ensuring we are continuously learning and adapting to the latest trends and challenges. Furthermore, we actively involve employees and stakeholders in sustainability efforts, making it a core part of our company culture. We also spark open conversations and shared learning, inviting everyone in our team to share their sustainability wins and lessons learned. We believe that having an ESG mindset in daily life will enable us to respond to any new challenges or opportunities that arise.

Our Materiality and Milestones

This year our top materialities include:

Health and Safety

This aspect is one of the challenging issues to manage because it depends on everyone being aware, knowledgeable and ready to act. We are trying to create a culture where health and safety are a natural part of everyday work. This can be done by leveraging technology for real-time monitoring, organising regular training, and running campaigns that get people involved. With consistent effort and teamwork, it is possible to keep everyone informed and prepared to maintain a safe environment.

Customer Relationship

Tickets bookings and refunding process are the area that we are trying to strengthen. We are rectifying this deficiency by focusing on continuous communication, responsiveness and personalised service that cater customer needs.

Corporate Governance

Good governance stems from strong policies and effective execution. As Board members, we ensure that we establish solid policies and KPIs that align with management strategy. This year, we were awarded a maximum score of 5 out of 5 by the Thai Institute of Directors (IOD) and have consistently received an "Excellent" rating since 2019.

Challenges and What matters

Climate change poses significant challenges to the aviation industry, such as regulatory mandates and the high cost of decarbonising a hard-to-abate industry. To mitigate these effects, the Company has been advocating for the government to allow airlines to introduce carbon fees or environmental surcharges in line with global best practices, although these efforts are still on-going. Throughout the year, the Corporate Governance and Sustainability Committee dedicated our efforts to communicating and raising awareness about our net-zero emissions goal and the support structures that are needed for us to deliver our commitments. Highlights include impactful events such as Thai Aviation Sustainability Day and Sustainability Expo 2024, which served as platforms to educate and engage the public, passengers, the aviation industry, businesses, government agencies, to become more aware of the impacts of climate change and foster collaboration towards achieving our shared goal of addressing this crisis.

Going Our Step Forward

We plan to further accelerate our sustainability journey by:

• Investing in innovation: We will continue to invest in the latest technologies such as fuel-efficient aircraft and operational efficiency measures. We are also investing in research and development of low-carbon technologies such as sustainable aviation fuels.
• Strengthening partnerships: We believe that collaboration is key to accelerating the transition to a low-carbon aviation industry. We will expand our collaborations with industry peers, governments, and research institutions to drive industry-wide change. A significant milestone in our sustainability journey is our recent partnership with KBank, marked by the signing of an MOU for the Thailand Climate Business Network, which reinforces our commitment to creating a positive environmental impact.
• Embracing circular economy principles: We will adopt a circular economy approach across our operations, focusing on reducing waste, reusing materials, and extending product lifecycles. By embedding circular economy practices into our processes, we aim to create a more sustainable, efficient, and resource-conscious business model, ensuring we minimise our environmental impact while maximising long term value.