SRT Board partially approves Airport Rail Link extension terms

Matichon•Economy•10d ago

Reader Briefing

The State Railway of Thailand Board has approved only one of four conditions proposed by Asia Era One for extending Airport Rail Link operations.

•Asia Era One proposed extending Airport Rail Link operations for 4 months from October 1, 2026, to January 31, 2027.
•The SRT Board accepted only the condition to provide a 1,000 million baht guarantee (10% of the total amount).
•Asia Era One cited accumulated losses of 458 million baht since 2021 as a reason for seeking to terminate the original contract.
•SRT is preparing its subsidiary, SRT Electrified Train Co., Ltd., to take over operations if a conclusion is not reached.

•Asia Era One proposed extending Airport Rail Link operations from October 1, 2026, to January 31, 2027, as the original term ends September 30, 2026.
•Anant Phonimdang reported that the SRT Board accepted only the condition allowing a 1,000 million baht guarantee, which is 10% of the total 10,671 million baht.
•Asia Era One cited accumulated losses of 458 million baht since 2021, with revenues of 3,070 million baht and expenses of 3,528 million baht.
•Asia Era One stated that contract amendments were not completed and loan procurement was affected by COVID-19 and the Middle East war.
•The SRT Board rejected conditions regarding the separation of the 4-month extension from the main contract, immediate termination upon legal disputes, and a 60 million baht monthly management subsidy.
•SRT will negotiate further with Asia Era One using actual monthly financial data to propose a budget for Cabinet approval by September 2026.
•SRT is preparing SRT Electrified Train Co., Ltd. to take over the Airport Rail Link service to ensure public transportation does not stop.
•SRT plans to increase the number of trains on the Eastern Line to support increasing passenger travel.

Full article content is available on the original source.

Anant Phonimdang(อนันต์ โพธิ์นิ่มแดง)

Governor of the State Railway of Thailand.

State Railway of Thailand(การรถไฟแห่งประเทศไทย)ℹ️

The organization managing the Airport Rail Link and high-speed rail projects, referred to as SRT.

Asia Era One Co., Ltd.(บริษัท เอเชีย เอรา วัน จำกัด)

A CP group company managing the high-speed rail project connecting three airports.

SRT Electrified Train Co., Ltd.(บริษัท รถไฟฟ้า ร.ฟ.ท. จำกัด)

A subsidiary of the State Railway of Thailand prepared to take over Airport Rail Link operations.

CP(ซี.พี.)

The parent group of Asia Era One Co., Ltd.

Airport Rail Link(แอร์พอร์ต เรล ลิงก์)ℹ️

The electric rail system subject to operational extension and management disputes.

Cabinet(คณะรัฐมนตรี)

The government body to which SRT will submit the new budget framework for approval.