Changes in Thai AirAsia's Company Ownership Structure

Thai AirAsia, AirAsia’s associate company in Thailand, has made changes to the company’s ownership structure to comply with Thai laws on foreign ownership.

Under the near shareholding structure, Shin Corp’s 50% stake in Thai AirAsia will be liquidated to a local Thai company named Asia Aviation Co. Ltd. AirAsia International Limited’s (AAIL) 49 % stake in Thai AirAsia will remain unchanged, while Tassapon Bijleveld, Chief Executive Officer of Thai AirAsia holds the remaining 1%.

Asia Aviation Co. Ltd is a registered company with the Commerce Ministry's Business Development Department, and consists of the following shareholders:

Mr. Sittichai Veerathummnoon - 51%
ShinCorp - 49%

The total investment for this new entity is THB400 million. With this new shareholding in place, Thai AirAsia remains a majority Thai holding company since Asia Aviation is a Thai domicile company with majority Thai shareholders.

Thai AirAsia has to date carried over 3million guests since commencing operations in 2003. The Thai based low fare airline currently operates 241 weekly departures from its hub in Bangkok International Airport to 15 domestic and regional destinations such as Malaysia (Kota Kinabalu, Penang, Kuala Lumpur), Singapore, Macau, China, Cambodia, and Vietnam. Thai AirAsia presently operates a fleet of 9 Boeing 737-300s.

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