Thai AirAsia

Thai AirAsia

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Thai AirAsia

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Description:
Thai AirAsia () is a joint venture of Malaysian low-fare airline AirAsia () and Thailand's Asia Aviation. It serves AirAsia's regularly scheduled domestic and international flights from Bangkok and other cities in Thailand.

Thai AirAsia is the only low-cost airline operating both domestic and international flights from the Suvarnabhumi Airport.In Thailand its the sponsor of football teams Buriram PEA, Muangthong United, Chonburi, Osotspa Saraburi, BEC Tero Sasana, Samut Prakan CUTD, Suphanburi, FC Phuket. and Narathiwat.

History

Thai AirAsia launched domestic operations on February 2004. It was set up as a joint venture by Shin Corporation and AirAsia founder Tony Fernandes.



In order to be licensed in Thailand as a domestic carrier, 51% of the company must be owned by Thai shareholders. The sale of Shin Corp. stock in January 2006 by the now self-imposed exiled ex-Thai Prime Minister Thaksin Shinawatra's family to Singapore’s Temasek Holdings put this Thai majority stake in jeopardy.

On 15 February 2006 it was announced that Asia Aviation, a registered Thai company, had taken Shin Corp.’s 50% stake in Thai AirAsia. Asia Aviation was a joint venture set up by Shin Corp., which held 49% of Asia Aviation's shares while 51% was held by Thai investor Sittichai Veerathammanoon.

In May 2007, Thai AirAsia's management acquired 100% of Asia Aviation. Today, Thai AirAsia is 50% owned by Asia Aviation, 49% owned by AirAsia, and 1% owned by Thai...
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