Thai AirAsia Co., Ltd. has partnered with Kasikornbank to execute Thailand’s first foreign exchange (FX) risk management agreement in the airline sector linked to greenhouse gas reduction initiatives under the Thailand Greenhouse Gas Management Organization’s (TGO) Low Emission Support Scheme (LESS). Under this partnership, Kasikornbank will provide preferential FX rates to Thai AirAsia upon meeting certain milestones tied to the LESS program, reinforcing a shared commitment to a low-carbon society. The agreement references Thai AirAsia’s achievement in receiving a Certificate of Honor from the Thailand Greenhouse Gas Management Organization (TGO) for its voluntary emission reduction activities. This collaboration also strengthens the role of the Thailand Climate Business Network (ThaiCBN), a coalition of Kasikornbank, Thai AirAsia, and 23 other leading national and international organizations, working collectively to transition Thailand toward net-zero greenhouse gas emissions.

Mr. Phairat Pornpattananakul, Chief Financial Officer of Thai AirAsia, said: “Thai AirAsia is proud to be the first airline in Thailand to apply this innovative financial mechanism that links our environmental achievements to FX risk management. The Certificate of Honor from TGO validates our ongoing efforts to reduce carbon emissions through responsible activities. Through this instrument, we are also able to enhance financial risk mitigation while progressing towards our environmental management goals.”

He added that the partnership strengthens Thai AirAsia’s commitment to Environmental, Social and Governance (ESG) standards and validates the company’s continued efforts to intensify its environmental initiatives in pursuit of its Net Zero target.

Mr. Thipakorn Saipattana, First Senior Vice President of Kasikornbank, stated that the bank is pleased to enter into a foreign exchange risk management agreement with AirAsia, referencing the Certificate of Honour under the Low Emission Support Scheme (LESS). Under this agreement, Kasikornbank will provide preferential exchange rates to the company upon receipt of the LESS certificate within the specified timeframe. AirAsia is one of the organisations collaborating with Kasikornbank in the establishment of the Thailand Climate Business Network (ThaiCBN). This transaction is expected to serve as a strong incentive in supporting Thai AirAsia’s journey toward achieving net-zero greenhouse gas emissions. It aligns with the bank’s mission to be a sustainable banking leader committed to supporting clients through pioneering financial products and services that are environmentally and socially responsible and underpinned by good governance. This initiative reinforces Kasikornbank’s dedication to financial innovation and its role as a leader in Thailand’s financial and capital markets.

Thai AirAsia received its latest Certificate of Honour under the Low Emission Support Scheme (LESS) from the Thailand Greenhouse Gas Management Organization in 2024, recognising the airline’s verified efforts to reduce greenhouse gas emissions through voluntary environmental activities. Thai AirAsia has also been included in the FTSE4Good Index and holds an “AA” rating in the SET ESG Ratings, reflecting its consistent commitment to sustainability. Most recently, the Company was honoured with the “Leading of ESG – Social Product” award at the Future Trends Awards 2025, with its “Journey D” project playing a key role in achieving this recognition.