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.
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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