Modification of two B787s operated by Thai Airways

12 April 2017

DP AIRCRAFT I LIMITED

Modification of two B787s operated by Thai Airways

The Board of Directors of DP Aircraft I Limited (the "Company") announces that Thai Airways, lessee of two of the Company's B787s (serial numbers MSN 36110 and MSN 35320), has requested permission to modify the aircraft through the installation of a crew rest compartment and the introduction of in-flight connectivity equipment (including a Wi-Fi antenna). The Company's asset manager, DS Aviation, has advised the Board that it considers that these modifications will improve both the marketability and the value of the assets, and as a result will benefit the Company's shareholders. The request by Thai Airways has therefore been approved by the Board.

The flight crew and flight attendant rests will be fitted overhead in order to minimise the loss of cargo and cabin holds; and although passenger capacity will be reduced by two Business and six Economy class seats, it will allow the airline to operate the B787s more efficiently within the network, and to deploy them on longer routes. As on-board Wi-Fi connectivity becomes more common, the installation of a Wi-Fi antenna for a network carrier represents a logical proposal from a commercial perspective.

Initial designs, plans and engineering will be performed by the Boeing Company. Physical installation is scheduled to take place in December 2017 and January 2018, over the course of approximately three weeks in each instance, and will be conducted by Boeing Shanghai. All costs of the process will be borne by Thai Airways, and the modifications made will remain part of the aircraft upon expiry of the lease agreements with Thai Airways and the return of the assets to the Company. Thai Airways will be obliged to continue lease payments to the Company during downtime, and any modifications to the aircraft will be made in accordance with the relevant OEM manuals and will be approved by the Federal Aviation Administration and the Civil Aviation Authority of Thailand.

For further information please contact: 

Aztec Financial Services (Guernsey) Limited, Company Secretary

+44 1481 748833

Kellie Blondel / Chris Copperwaite

This announcement contains inside information as defined under the Market Abuse Regulation (EU) No. 596/2014.