Airports of Thailand reports 9-month profit up 178%
AOT reports profit for first nine months at 14.91 billion baht, citing tourism recovery
Kirati Kijmanawat, president of Airports of Thailand Pcl (AOT), announced the company's performance for the first nine months of the fiscal year, from October 2023 to June 2024. AOT reported a net profit of 14.910 billion baht, an increase of 9.551.41 billion baht or 178.23% compared with the same period last year.
Total revenue for the first nine months was 50.764 billion baht, a 53.32% increase. Revenue from sales and services rose by 17.567 billion baht, or 53.59%. This includes aviation-related revenue of 23.268 billion baht, up 7.310 billion baht or 45.81%, and non-aviation revenue of 27.078 billion baht, up 10.257 billion baht or 60.98%.
Total expenses amounted to 29.580 billion baht, an increase of 5.651 billion baht or 23.62%.
Kirati attributed the revenue growth and passenger volume increase to the recovery of international tourists visiting Thailand, coupled with government measures to stimulate the economy. Over the nine months, AOT handled a total of 548,514 flights, up 15.51% compared with the same period last year. This included 308,500 international flights and 240,014 domestic flights.
The total number of passengers reached 90.14 million, an increase of 21.17% from the previous year, with 54.60 million international passengers and 35.54 million domestic passengers.
"AOT has implemented modern passenger service technologies and innovations across its six airports, improving service quality and reducing passenger waiting times better than the established standards," Kirati said.
“Currently, the average processing time for international arriving passengers is 26 minutes per person (down from the original target of 40 minutes), and for international departing passengers, it is 37 minutes per person (down from the original target of 55 minutes)."
Domestic arriving passengers are processed in an average of 15 minutes per person (down from the original target of 35 minutes), and domestic departing passengers in 25 minutes per person (down from the original target of 40 minutes).
Additionally, AOT has launched a campaign to promote Thai tourism through the "New Routes to Airlines" programme at its six airports. This initiative aims to encourage airlines to open new flight routes by offering discounts on landing fees, airport service charges, and jet bridge usage.
