AirAsia confirms US$50m investment in EEC facility

AirAsia Group has confirmed it will invest US$150m in a maintenance repair overhaul (MRO) facility at the Eastern Economic Corridor's U-tapao airport. The facility, to be completed in one year, will serve as a maintenance centre for all 200 of AirAsia Group's aircraft in the region. CE Tony Fernandes said the company would make the investment after meeting with Deputy PM Somkid Jatusripitak Wednesday. "We can immediately begin the project once the Thai government approves it," he said. "But it will still take a month to reach a final agreement with partners and about 12 months to construct the facility." Thailand is a significant destination for AirAsia investment because of the high potential of its tourism industry. AirAsia operates 200 aircraft in Thailand, Malaysia, Indonesia, the Philippines and India. That number is projected to grow to 300-350 in the next five years. The MRO facility will offer services to other airlines and is forecast to attract 10-20 supporting firms to invest in Thailand.<br/>