AAV Lists on THSI for 4th Year as Travel Recovery Fuels Flight Growth
BANGKOK, 14 October 2022 - Asia Aviation Plc. (AAV), a company listed on the Stock Exchange of Thailand (SET) and major shareholder of Thai AirAsia, has again been selected for inclusion into the Thailand Sustainability Investment (THSI) list for 2022 in the Service Industry group. This is the fourth consecutive year that AAV was featured on THSI. The listing is testament to the company’s commitment to enhancing our sustainability attainments and ensuring good governance of our risks, including climate-related risks, even as our recovery continues in the travel business.
Mr Santisuk Klongchaiya, Chief Executive Officer of Asia Aviation Plc. and Thai AirAsia Co. Ltd. said: “Businesses were faced with what might have been their greatest challenges over the past two to three years with the aviation industry among the hardest hit. Nonetheless, by employing strategies and operational approaches guided by Environmental, Social and Governance (ESG) best practices, AAV was able to weather the situation and return to robust growth, being one of the first members of the sector to bring its fleet and crew back into operation.
“AAV being chosen for the THSI for a fourth year brings us great pride and is an affirmation that we are on the right path. We have remained responsible to our stakeholders and have received their steadfast confidence, as well as from our employees, passengers and other stakeholders. With the skies reopening, AirAsia will continue to seize opportunities domestically as a way to aid national economic recovery and internationally to rebuild the tourism sector,” Mr Santisuk said.
Throughout the COVID-19 pandemic, AAV and Thai AirAsia prioritised efficient management in all dimensions using our 3G strategy of Good, Green and Growth. Exemplifying “Good”, Thai AirAsia maintained its on-time performance rate above 97 percent last year while maintaining our high service standards. Under the “Green” aspect, the airline devoted attention to waste management, properly recycling over 88 percent of in-flight meals and decommissioned equipment such as life jackets. For “Growth”, despite challenges over the last two years, Thai AirAsia executives were able to forge collaborations with a variety of business partners, leading to 14 projects in aid of employees whose income were affected by the crisis. The carrier was also able to shore up liquidity through the support from capital and financial markets, allowing it to overcome the situation and maintain the largest fleet in the low-fare carrier market. All of this reflects AAV’s vision to achieve mutual long-term growth alongside stakeholders by being mindful of the ESG responsibilities. The company also disclosed relevant data in line with international sustainability standards.
In September, AirAsia was again recognised as the “World’s Best Low-Cost Airline” by international rating agency Skytrax for the 13th consecutive year, underlining its commitment to quality service and target-hitting growth. The airline expects to return near to pre-COVID-19 domestic capacity within the year while continuing its international network expansion throughout Asean and India. Thai AirAsia’s new flights to Fukuoka in Japan and Dhaka in Bangladesh have also been well received. The airline expects the latter part of 2022 to deliver its best operational results in the last three years.
Notice: Read about AAV’s sustainability strategies at page 57-98 of the 2021 Annual Report https://hub.optiwise.io/storage/26/annual-report/2021/e-book/en/index.html