CP-linked firm reaffirms high-speed rail exit bid, may halt Airport Rail Link on September 30

A CP-linked company, Asia Era One, has reaffirmed its intention to terminate its contract for the high-speed rail project connecting three major airports.

The dispute is over the company's request to change the payment structure from a lump sum upon completion to progress-based payments, which the government finds difficult to implement.

The termination bid includes the potential halt of the Airport Rail Link service, which the company currently operates under the same agreement.

Thai authorities are negotiating to prevent service disruption and have the State Railway of Thailand (SRT) prepared to take over Airport Rail Link operations as a contingency.

A CP-linked company has reaffirmed its intention to exercise its right to end the public-private partnership for Thailand’s three-airport high-speed rail project, raising the possibility that it will stop operating the Airport Rail Link on September 30.

Deputy Transport Minister Siripong Angkasakulkiat said Asia Era One Co Ltd had sent a second letter to the State Railway of Thailand (SRT), maintaining its request to exercise its right to terminate the partnership contract.

Asia Era One is the SRT’s private partner in the proposed high-speed railway connecting Don Mueang, Suvarnabhumi and U-Tapao airports.

The company had previously notified the SRT that it wanted to preserve its right to terminate the agreement if the parties could not reach a deal on proposed contractual changes. The SRT subsequently asked the company to withdraw that notice and continue negotiations.

Asia Era One’s latest response, however, confirms for a second time that it intends to retain its termination claim.

The dispute centres on the private partner’s proposal to change the state’s payment structure from payment after the entire project is completed to payments made according to construction progress.

Siripong said such a change would be difficult to implement under the original contractual framework.

Asia Era One’s request covers all rights and obligations under the partnership, including both the three-airport high-speed railway and its operation of the Airport Rail Link.

According to Siripong, the company has indicated that it may stop operating the Airport Rail Link when the current arrangement expires on September 30, 2026.

The dispute follows an earlier request by the CP-linked company to end the three-airport high-speed rail agreement.