Airports of Thailand Posts Worst Quarter

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Thailand Airports posted its worst quarter ever on Tuesday after volume fell due to coronavirus-related restrictions.

State-owned AOT posted a loss of 2.96 billion baht ($ 95 million) in the three months ended June 30, compared to a profit of 5.89 billion a year earlier.

According to four analysts surveyed by Refinitiv, the shortfall was greater than the expected loss of 2.1 billion baht.

Foreign tourist arrivals to Thailand fell 66% in the first half of 2020, driven by global travel restrictions, including some from Thailand’s aviation authority.

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The country has put the “travel bubble” discussion on hold.

AOT’s revenues, including landing fees and concessions, fell 88% to 1.7 billion baht.

Airline and passenger numbers fell 88% and 95%, respectively, said AOT, which manages the country’s main Suvarnabhumi airport and five others.

In the nine months to June 30th, there were 438,000 flights and 65.15 million passengers, down 35% and 39% respectively.

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