Asia Aviation Public Company Limited ("Asia Aviation"or "Company") was incorporated on February 14, 2006 as a company limited with a registered capital of Baht 410,000,000 being common shares of 41,000,000 shares at the par value of Baht 10 per share.The Company is a holding company, which makes an investment only in the low-cost carrier business under Thai AirAsia Company Limited ("Thai AirAsia").
On June 21, 2007 management team, consisting of chief executive officer and high-level management personnel, did a buyout on Asia Aviation from the shareholders at that time as the management team has foreseen the growth potential of Thai AirAsia. In November 2011, Asia Aviation acquired an additional 1% shareholding from Mr. Tassapon Bijleveld and held 51% in Thai AirAsia. Asia Aviation then became the public company on December 26, 2011 with a registered capital of Baht
485,000,000 and a paid-up capital of Baht 410,000,000 being common shares of 4,100,000,000 shares at the par value of Baht 0.10 per share. On May 31, 2012 Asia Aviation Plc. was listed in the Stock Exchange of Thailand under ticker name "AAV" with the fully paid-up capital. The Company used the proceeds from the Initial Public Offering (IPO) to subscribe the newly issued shares of Thai AirAsia, which increased its shareholding to a current of 55% in Thai AirAsia.