Airports of Thailand posts worst quarter

[BANGKOK] Airports of Thailand on Tuesday booked its worst quarter ever after volumes plummeted due to coronavirus-related restrictions.

State-owned AOT reported a loss of 2.96 billion baht (S$130.6 million) for the three months to June 30 versus a profit of 5.89 billion a year earlier.

The shortfall was larger than the 2.1 billion baht loss expected, according to four analysts polled by Refinitiv.

Foreign tourist arrivals in Thailand fell 66 per cent in the first half of 2020 reflecting global travel restrictions, including some from Thailand's aviation regulator.

The country has put discussions of a 'travel bubble' on hold.

AOT's revenue, including landing charges and concessions, fell 88 per cent to 1.7 billion baht, it said.

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Flight and passenger numbers fell by 88 per cent and 95 per cent, respectively, said AOT, which manages the country's main Suvarnabhumi Airport and five others.

For the nine months to June 30, it recorded 438,000 flights and 65.15 million passengers, down 35 per cent and 39 per cent, respectively.

It will proceed with the construction of a satellite terminal in Bangkok, it said, but delay its opening until 2022.

REUTERS