Further to the Company’s announcement on 19 November 2013, the Company wishes to announce that TAAX has officially received the approval from the Department of Civil Aviation of Thailand for the Air Operator's Certificate (“AOC”) on 3 February 2014. With this AOC, TAAX will now commence application for operating permits and slots to its intended international routes. TAAX will lease two Airbus 330-300 from a subsidiary of the Company in its first year of operations.

The Company also wishes to announce Mr. Nadda Buranasiri was appointed as the Chief Executive Officer of TAAX effective 1 January 2014.

The shareholding of the Company in the share capital of TAAX remains at forty nine per centum (49%).