The story
On 12 November 2003, AirAsia partnered with Shin Corporation to establish AirAsia Aviation Co. Ltd. (Thai AirAsia). It launched operations in February 2004 by launching flights from Bangkok–Don Mueang to Hat Yai, Phuket, and Chiang Mai.
On 15 February 2006, it was announced that Asia Aviation PLC (AAV), a registered Thai company, had taken Shin Corporation's 50 percent stake in Thai AirAsia. Asia Aviation was a joint venture set up by Shin Corporation, which held 49 percent of Asia Aviation's shares, while 51 percent was held by Thai investor Sittichai Veerathammanoon.
In May 2007, Thai AirAsia's management acquired 100 percent of Asia Aviation. Thai AirAsia is 55 percent owned by Asia Aviation and 45 percent owned by Malaysia-based AirAsia Group. In June 2016 King Power purchased a US$225 million stake in Thai AirAsia. The purchase of 39 percent of holding company Asia Aviation makes King Power the second largest shareholder in Thai AirAsia. It sold back its shares to Asia Aviation a year later.
Thai AirAsia was once the only low-cost airline operating both domestic and international flights from Suvarnabhumi Airport in Bangkok, having moved there in 2007 from Don Mueang International Airport. However, the airline transferred all operations from Suvarnabhumi to Don Mueang on 1 October 2012. On 25 September 2020, Thai AirAsia resumed flights from Suvarnabhumi Airport.
From Wikipedia’s article on Thai AirAsia, shared under CC BY-SA 4.0.4