Climate Change Data

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Trent 1000 engine issues impacting Boeing 787 operations, leading to aircraft storage and increased costs.
• Coronavirus outbreak potentially impacting airline industry, particularly in Asia.
• Financial challenges for lessees (Norwegian Air Shuttle and Thai Airways).

Mitigation Strategies

• Norwegian Air Shuttle implemented cost-saving programs and liquidity measures (joint venture, restructuring, asset sales, bond refinancing, capital raise).
• Thai Airways launched the "Mantra" project for rehabilitation, focusing on additional revenue streams and synergies with Thai Smile.
• Both lessees are working to address Trent 1000 issues with Rolls-Royce for compensation.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance

Environmental Achievements

• The Group operates NTA (‘New Technology Aircraft’) ‐ specifically Boeing 787‐8’s equipped with Rolls Royce Trent‐1000 engines which are 20% more fuel efficient on a revenue‐per‐kilometre basis than similar comparable current technology legacy aircraft.
• The Board has taken steps to reduce its own travelling and maximises the use of virtual meetings within the board and with all its key service providers.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impact on the airline sector and aircraft leasing sector.
• Thai Airways entering business rehabilitation.
• Uncertainty around the extension of the lease term with Thai Airways.
• Higher fuel prices and the impact of inflation on travel demand.
• Geopolitical and economic risks related to Thailand and the global market.
• Exposure to the commercial airline industry and its financial condition.
• Risk that the business rehabilitation plan for Thai Airways does not achieve desired results.
• Continuing impact of COVID-19 and the conflict between Russia and Ukraine on passenger numbers for Thai Airways.
• Asset risk of selling or re-leasing aircraft at the end of lease terms.
• Key personnel risk.
• Credit risk and counterparty risk with Thai Airways and DekaBank.
• Liquidity risk due to loan agreements.
• Boeing Company exposure to ongoing guarantees and commitments.
• Rolls Royce Company exposure to ongoing guarantees and commitments related to Trent 1000 engine issues.

Mitigation Strategies

• Signed a Letter of Intent (LOI) with Thai Airways to amend lease terms.
• Amended and restated loan facility agreements with DekaBank to accommodate new lease terms.
• Successful equity fund raise of US$750,000.
• Engaged an asset manager with appropriate experience of the aviation industry.
• Monitoring the development of COVID-19 and assessing its impact.
• Deferring repayments of principal on loans.
• Discussions with DekaBank to determine how to schedule interest payments, principal repayments, and a final balloon repayment.
• Some service providers and the directors will continue to defer some amounts due.
• Focus on preserving the Group's long-term financial stability and assets.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS

Third-party Assurance: KPMG, Chartered Accountants

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance

Environmental Achievements

• Operates Boeing 787-8s, which are 20% more fuel-efficient than comparable legacy aircraft.

Social Achievements

• Not disclosed

Governance Achievements

• Board has taken steps to reduce travel and maximize virtual meetings.

Climate Goals & Targets

Environmental Challenges

• Significant impact of COVID-19 on the airline and aircraft leasing sectors.
• Thai Airways entering business rehabilitation.
• Uncertainty around lease extension with Thai Airways.
• Limited liquidity position.
• Inflationary pressures and cost increases.
• Potential need for further fundraising.

Mitigation Strategies

• Amended and restated loan facility agreements with DekaBank to accommodate new lease terms.
• Renegotiated lease terms with Thai Airways.
• Deferred principal repayments on loans.
• Deferred fees from service providers and directors.
• Plan to raise additional capital (up to $1 million) in Q3 2024.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: IFRS

Certifications: Null

Third-party Assurance: KPMG Channel Islands Limited

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed