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Thai Airways International Public Company Limited held a board meeting on Monday (January 19), with a key agenda item being a request for board approval to invest in the Maintenance, Repair and Overhaul (MRO) project at U-Tapao Airport in Ban Chang district, Rayong, on a 33.6 hectares site, to be developed as a smart hangar.
Thai Airways’ investment is valued at more than THB13 billion. Construction is scheduled to begin in 2027 and be completed in 2030, with the aim of becoming a world-class aircraft maintenance hub.
The project is expected to be completed alongside the airport’s second runway, which began construction last month.
All of these form part of the aviation city within the Eastern Economic Corridor (EEC).
For the U-Tapao MRO project, Thai Airways will lease 33.6 hectares from the EEC under a 50-year lease.
After the Thai Airways board approves the plan, the airline will sign an agreement with the EEC, which is expected in late January or early February next year.
Under the contract, Thai Airways must pay the specified rent and share revenue with the state.
Revenue-sharing will begin from year five: in years 5–10, Thai Airways will pay 3% of revenue; in years 10–15, 5% of revenue; and from year 15 onwards, 7% of revenue.
For the U-Tapao aircraft MRO centre, Thai Airways will be the operator leasing the site from the EEC.
Thai Airways will be responsible for the main infrastructure, and will allocate 30 rai to Bangkok Airways to develop a narrow-body aircraft maintenance hangar.
Bangkok Airways’ area will include space to park around two aircraft, and is expected to require an investment of about THB2 billion.
Initially, the facility will support maintenance for Bangkok Airways’ aircraft.
The project is expected to begin without delay, possibly within the next year, and later expand to serve other airlines, as Thailand currently lacks sufficient aircraft maintenance centres and airlines that are members of the Airline Association of Thailand have to send aircraft overseas for maintenance.