Thai State Railways (SRT) rejected four conditions from CP's Asia Era One for continuing Airport Rail Link operations after the September 30 contract end. CP will operate for four months until January 31, 2570, but disputes remain over: (1) payment terms and 30-day dispute resolution clause; (2) 60M baht/month operating fee (SRT currently cannot pay due to pending main contract); (3) return of 1B baht guarantee deposit; (4) equipment handover condition. SRT plans to transition to subsidiary company RRFF after 4-month extension if agreement reached. Current service generates only 30M baht monthly revenue against 60M baht operating costs.