O N E R E P O R T 2 0 2 2 OVERVIEW BUSINESS OVERVIEW AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL INFORMATION SUSTAINABLE BUSINESS DEVELOPMENT 24 1. BUSINESS OVERVIEW Asia Aviation Public Company Limited (“Asia Aviation” or “Company”) is a holding company which currently makes an investment only in Thai AirAsia. Thus, the business overview shall be deemed at the operating company Thai AirAsia. Thai AirAsia has the vision of being the leading sustainable travel technology company in Asia, providing more than just affordable flights. Our mission is to deliver top-notch products while embracing technology COMPANY POLICY AND BUSINESS OVERVIEW (GRI 2-1) to lower costs, improve service, and show care to all stakeholders including employees or Allstars, customers, business partners, investors, communities, and governments. We aim to create jobs in the region and become the best place to work where dreams come true. We strive to build a sustainable, globally recognised ASEAN brand that contributes to the economy, society, and environment and provides opportunities for everyone to fly following our slogan “Now Everyone Can Fly”. Furthermore, Thai AirAsia focuses on providing high-frequency service on short-haul international and domestic routes within the five and a half hours flight time from our hubs in Bangkok (Don Mueang International Airport), Bangkok (Suvarnabhumi Airport), Phuket, and Chiang Mai. This enables us to reach the population in Southeast Asia, South Asia, and southern China and Japan. We cater to both leisure and business travellers by focusing on affordable airfares and reliable on-time performance. Thai AirAsia follows the business model of AirAsia Berhad (“AAB”) in Malaysia, operating as a low-fare airline under the “AirAsia” brand. Our single-class, single-family fleet configuration, point-to-point operations, high aircraft utilisation, effective distribution channels, loyalty programme, and comprehensive route network give us a cost advantage over other Thai airlines and many other low-cost carriers (LCC) globally. Our cost advantages, competitive prices, strong branding and marketing, and dependable service have driven our continued growth since our establishment in 2004. 2. BACKGROUND Asia Aviation was incorporated on 14 February 2006 as a company limited with a registered capital of Baht 410,000,000, being common shares of 41,000,000 shares at the par value of Baht 10 per share. The Company is a holding company, which makes an investment only in the low-fare carrier business under Thai AirAsia Company Limited (“Thai AirAsia”), holding 50 percent during that period. On 21 June 2007, the management team, consisting of Chief Executive Officer and high-level management personnel, did a buyout on Asia Aviation from the shareholders at that time as the management team had foreseen the potential growth of Thai AirAsia. MISSION • To provide the highest quality product, embracing technology to reduce cost and enhance service • To care for all our stakeholders, from Allstars, guests, business partners, investors to communities and governments • To create jobs across the region and be the best company to work for where dreams come true • To create a globally recognised, sustainable ASEAN brand focused on adding value to the economy, society and environment VISION To be the leading sustainable travel technology company in Asia providing more than just affordable flights
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