causing total number of its customers to be from 71 airlines to 75 airlines for ground service equipment. Management’s Discussion and Analysis Bangkok Airways is a full serviced airline providing premium

the resolutions as follows: 1. To dispose all investments in Nation U Co., Ltd. (“NU”) (a subsidiary of the Company holding the license and operating the Nation University business), i.e., disposing

customers for international cargo terminal services. 6 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis Bangkok Airways is a full serviced airline providing premium service to passengers. Company

customers to be from 70 airlines to 74 airlines for ground service equipment. 8. Bangkok Airways Holding Company Limited established Air Siem Reap Company Limited with the purpose to operate aviation business

, with registered capital of 10.0 Million Baht. Bangkok Airways Holding Company Limited holding 100.0 percent of all the shares of this new subsidiary. 5 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and

financials due to holding segment 3Core EBITDA is Reported EBITDA less Inventory gains/(losses) 4Core Net Profit is Reported Net Profit less Inventory gains/(losses) one-time extraordinary items 5Operating

the unit holders, under Clause 23 and Clause 24; (16) the restriction of unit holders’ right when exceeding the holding ratio or when having extraordinary interest in the matter, under Clause 25; (17

and incentives to gain the privilege when travelling from CLMV countries to Thailand. (February 2019) 5. The Company, BTS Group Holding Public Company Limited and Sino-Thai Engineering & Construction

incentives to gain the privilege when travelling from CLMV countries to Thailand. (February 2019) 5. The Company, BTS Group Holding Public Company Limited and Sino-Thai Engineering & Construction Public

the Company. 6 ASIA’S BOUTIQUE AIRLINE 6. Bangkok Airways Holding Company Limited, the subsidiary of the Company, invested 99.9 percent in More Than Free Company Limited. The objective is to invest in