News
Airports of Thailand posts US$493.2 million annual net loss
November 23rd 2021
Airports of Thailand (AOT) will push ahead with airport redevelopment projects despite a traffic slump that saw profits plunge to a 16.3 billion baht (US$493.2 million) net loss for the financial year ending September 30. Read More » The result was a steep fall from the 4.3 billion baht profit AOT had recorded in the previous year. Revenue plummeted 24.1 billion baht, to 7.1 billion baht, mainly from an 86% decline in aeronautical income. COVID-19 restrictions pushed down air traffic volume at AOT’s six airports by 52.35%, or 245,458 flights, compared with a year ago. Passenger numbers were lower by 72.45%. AOT will continue its airport development projects aimed at enhancing capacity and preparing for the recovery of aviation “which is expected to return to its normal state in the future”. This included development at Bangkok’s Suvarnabhumi airport and transport options for Don Mueang airport, it said. AOT is introducing new technology, such as a Common Use Passenger Processing System, to help passengers mitigate the risk of contracting an infection and improve service. “AOT is committed to developing services to facilitate passengers and service recipients at all six airports with innovations on a digital platform to become Digital Airports Living Airports," the company said, and added the new customer technology would be branded SAWASDEE by AOT. It also planned to generate “stable income” by increasing the proportion of non-aeronautical revenue earned from the development of commercial areas around airports.
