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Thai Airways International Public Company Limited is the national carrier of the Kingdom of Thailand. It operates domestic, regional and intercontinental flights radiating from its home base in Bangkok to key destinations around the world and within Thailand. The company's fully paid up share capital amounts to 16,988,765,500 Baht (9 May 2005) and is 53.77% owned by the Ministry of Finance, the Thai Government. At the end of September 2004, consolidated total assets of the company amounted to 193,211 million Baht. In its operations, THAI has achieved profitability every year for the last 40 consecutive years
Thai Airways International was founded in 1960 as a joint venture between Thailand's domestic carrier, Thai Airways Company (TAC) and Scandinavian Airlines System (SAS) with the Scandinavian carrier initially providing a 30% share capital of two million Baht. SAS also provided operations, managerial and marketing expertise, with training assistance aiming at building a fully independent national airline within the shortest possible time. Thai nationals, through training and experience, were gradually able to assume full managerial responsibility and the number of expatriate staff duly reduced until, in 1987, expatriates accounted for less than one percent of staff based in Thailand.
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