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4-Traders Homepage  >  Equities  >  STOCK EXCHANGE OF THAILAND  >  Thai Airways International PCL    THAI   TH0245010002

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Thai Airways International PCL : THAI Moves Forward with Sustainable Aviation Biofuels Development

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03/22/2012 | 11:10am CET

THAI Moves Forward with Sustainable Aviation Biofuels Development

Bangkok , 20 March 2012 - Thai Airways International Public Company Limited (THAI) along with the Ministry of Energy, PTT Public Company Limited, public and private organizations, and international airlines jointly launched the "Thai Aviation and Environmental Workshop - Biofuels and Efficient Flight Operations".

Welcoming participants to the workshop, Captain Alongot Pullsuk , Vice President, Aviation Resources Development Department, Thai Airways International, said the workshop on the topic "Thai Aviation and Environmental Workshop" is a continuation of THAI's Corporate Social Responsibility (CSR) commitment and a concerted effort to develop aviation biofuels.   This workshop is the first aviation biofuels workshop to be held in Thailand with the support of organizations from the aviation and energy industries.

Mr. Piyasvasti Amranand , President of Thai Airways International, said t he air transport industry is expected to grow at the rate of 5% per year, which means there will be more demand for fuel and more carbon dioxide (CO2) will be released into the atmosphere. Furthermore, the industry contributes around 2% of CO2 emissio ns globally. As aviation industry expansion will unavoidably cause more CO2 to be released, the International Air Transport Association ( IATA ) has established a goal to reduce carbon emissions on a voluntary basis by 50% by year 2050 through the use of alternative fuels.

Thus, THAI has commenced its "Development of Sustainable Biofuels" project in cooperation with organizations bo th in and outside of Thailand . The project objective is to create awareness of biofuel production in Thai society and in the airline business as well as establish suitable guidelines for future biofuel production .

Mr. Amranand further stated that support and commitment from the Government, policy makers, aircraft and engine manufacturers, organizations, and research and academic institutes are needed so that related parties may efficiently move forward in the same direction.

"My commitment to biofuels remains strong.   I certainly believe that aviation will need to do its part in carbon reductions and THAI will continue to be in the forefront. So, we will continue with test flights to show our willingness to use biofuels more intensively when the cost becomes affordable," Mr. Amranand remarked.

Dr. Kurujit Nakornsap, Deputy Permanent Secretary, Ministry of Energy, said the Ministry has worked with THAI, PTT, and the Ministry of Science and Technology, to set up a working group that will oversee aviation biofuels research and development in the country. Aviation biofuels will be   used commercially to help sustain feedstock farms through to eventual implementation in the airline industry.

"We aim to replace 44% of transport fuel in Thailand with biofuels from sugar derivatives and cassava. Presently, consumption of ethanol tops 1.2 million liters a day and we are pushing to increase its further use. Thailand 's current biofuel champions are ethanol and biodiesel, which has been in use since 2005 and is made from palm oil.   With the Alternative Energy Development plan (AEDP), the goal has been established to increase alternative energy utilization to 25% of total energy consumption by 2021 while excluding NGV (natural gas for vehicles)," Dr. Nakornsap   said.

Dr. Kurujit said he was pleased that THAI has taken interest in using biofuels and in cooperation with PTT who has used biofuels in the first green flight in Asia on December 22, 2011 and hope to see more of this cooperation in the future.

Dr. Nakornsap said he was pleased that THAI has taken an interest in using biofuels, is   cooperating with PTT,   and used biofuels on "The First Passenger Biofuels Flight in Asia " on December 22, 2011.   He hoped that more cooperation like this will take place again in the future.

Dr. Pailin Chuchottaworn, CEO and President of PTT , said that the industry first needs to understand the roots of the problems as well as the right method to solve problems about sustainable fuels. In his view, if a large organization needs to survive, it must innovate green technology.   To grow a company, PTT has decided to work on several approaches including manufacturing and service practices that are environmentally-sound, developing products that are eco-friendly, planting more trees, and initiating more research and development, with a greener approach.

"Inclusive of all the efforts this year, we were cited in the Dow Jones Industrial ratings as number 14 in the gas and energy sector. Also, Fortune 500 listed PTT as one of the only Thai companies to reach the 384 th green ranking. In the energy category PTT ranked 16 th. We have a strong determination to move up in these ranks," said Dr. Chuchottaworn.

In the workshop, representatives from public and private entities, including international airlines made their prsentations and proposed ideas to support the development of aviation biofuels. Guest speakers included Dr. Rhett Jefferies, Program Manager, Continuous Low Energy Emissions and Noise Reduction Program from the Federal Aviation Administration (FAA), Mr. Skip Boyce, President of Boeing South East Asia, Dr. Jaroon Meesomboon, Aviation Ground Safety Expert of Thai Department of Civil Aviation, Mr. Aphinun Vannangkura, Executive Vice President of Aeronautical Radio of Thailand Ltd, Mr. Ian Doherty, Strategic Marketing Executive from Rolls-Royce, and Mr. James Witemyre, Senior Program Manager from GE Aviation.

For more information, please contact

Thapanee Chantakad (Juh) 086 334 1894

Pattarawadee Jaipong (A) 083 082 0537

Kornkamon Baedyanon (Amm) 082 443 6923

http://www.prthaiairways.

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This press release was issued by Thai Airways International pcl and was initially posted at http://www.prthaiairways.com/thaiair_4p/front/news_detail.php?lg=en&dng=1378 . It was distributed, unedited and unaltered, by noodls on 2012-03-22 11:04:31 AM. The issuer is solely responsible for the accuracy of the information contained therein.

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Financials ( THB)
Sales 2016 181 204 M
EBIT 2016 10 007 M
Net income 2016 3 362 M
Debt 2016 154 680 M
Yield 2016 0,36%
P/E ratio 2016 16,19
P/E ratio 2017 12,70
EV / Sales 2016 1,13x
EV / Sales 2017 1,06x
Capitalization 50 422 M
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Mean consensus UNDERPERFORM
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Average target price 19,3  THB
Spread / Average Target -16%
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NameTitle
Charamporn Jotikasthira President & Director
Areepong Bhoocha-oom Chairman
Bhurith Sriwatana Executive Vice President-Operations
Narongchai Wongthanavimok Executive Vice President-Finance & Accounting
Chalermpon Intarawong Executive Vice President-Technical Department
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