CP firm proposes 4 terms for four-month Airport Rail Link deal after September 30
Thailand’s state railway accepts only Asia Era One’s 1.067bn baht guarantee proposal, with three other Airport Rail Link terms still under discussion
- Asia Era One’s September 8, 2026, proposal sets four conditions for operating the Airport Rail Link for four months after the current agreement expires on September 30.
- The State Railway of Thailand has accepted only the proposed 1.067 billion baht guarantee for Asia Era One’s Airport Rail Link operations, governor Anan Phonimdaeng said.
- Asia Era One wants a right to end temporary services on at least 30 days’ written notice following specified court action or guarantee claims by the State Railway of Thailand over the three-airport high-speed rail project.
- The State Railway of Thailand expects negotiations on the remaining conditions to conclude during September 2026 to maintain passenger services.
Asia Era One, a Charoen Pokphand (CP) Group company, proposed four conditions in a letter dated September 8, 2026, for operating Bangkok’s Airport Rail Link for four months after the current agreement expires on September 30.
State Railway of Thailand (SRT) governor Anan Phonimdaeng said the railway had accepted only the proposed 1.067 billion baht operating guarantee for Asia Era One’s Airport Rail Link proposal, with three other conditions still requiring negotiation.
Thailand’s Transport Ministry and the SRT have been negotiating with Asia Era One to maintain uninterrupted passenger services after the company’s current operating memorandum of understanding (MOU) expires on September 30, 2026.
Asia Era One ties temporary operations to four conditions
Asia Era One’s offer is subject to four conditions, according to the SRT’s summary of the company’s September 8 letter.
Termination rights: Asia Era One proposed the right to end the temporary service if the State Railway of Thailand filed a lawsuit or initiated other court proceedings, including an application for interim court measures, over a dispute connected with the joint investment agreement, the existing memorandum of understanding or the three-airport high-speed rail project. The proposed right would also apply if the railway made a claim against any guarantee under the joint investment agreement. Asia Era One would have to give the SRT at least 30 days’ written notice.
Operating guarantee: Asia Era One proposed providing a guarantee of 1.067 billion baht as security for Airport Rail Link operations under the proposed operating memorandum of understanding.
Performance measures: Asia Era One proposed setting key performance indicators (KPIs) to assess Airport Rail Link operations.
Vehicle condition on return: Asia Era One’s temporary Airport Rail Link proposal included detailed inspections before vehicles were handed back to the state, using criteria based on their actual condition. Checks would cover whether all spare parts were present, the condition of windows and other aspects of the vehicles’ condition, in an approach likened to returning a hire car.
Asia Era One proposes a separate agreement without changing existing rights
Asia Era One said the temporary Airport Rail Link arrangement would be a new agreement entirely separate from the existing memorandum of understanding and the joint investment agreement for the three-airport high-speed railway. The company said the arrangement could operate independently, whatever the status of the joint investment agreement after September 30, 2026.
Asia Era One’s letter responded to the SRT’s Airport Rail Link transition proposal and observations raised at a meeting. The company said the offer was solely intended to help the SRT provide public services during the transition and give the railway sufficient time to prepare for continued operations.
Asia Era One said its Airport Rail Link operating proposal would not extend, renew, amend or replace the existing operating memorandum of understanding, or the duration, conditions, rights or obligations under the three-airport high-speed rail joint investment agreement. The provisions of those existing agreements would not govern services provided under the temporary arrangement, the company said.
Asia Era One also said action under its temporary Airport Rail Link proposal would not constitute performance of the existing operating memorandum of understanding or the three-airport high-speed rail joint investment agreement, an acknowledgement of debt, or any confirmation, acceptance or waiver of either party’s rights, claims or positions. The company said its rights, obligations, claims and positions, and those of the SRT, under the joint investment agreement and their earlier correspondence would remain unchanged.
SRT argues Airport Rail Link and high-speed rail contracts should remain separate
Anan said the SRT believed disputes over the three-airport high-speed railway should be handled separately from temporary Airport Rail Link operations, because the projects were covered by different contracts.
Anan said the three unresolved conditions for Asia Era One’s temporary Airport Rail Link operations required detailed discussions with the contract administration committee, the project supervision committee and Asia Era One.
Anan expected the unresolved Airport Rail Link operating terms to go before the project supervision committee, chaired by a deputy permanent secretary at the Transport Ministry, during September 2026. Anan said negotiations should conclude within the month in time to maintain uninterrupted passenger services.
