THAILAND. Airports of Thailand (AOT) has extended credit payment terms to concessionaires from six to 12 months at its six airports, providing additional financial relief to its beleaguered commercial partners.

In a letter to The Stock Exchange of Thailand, AOT said its board had approved a resolution to extend credit terms to 12 instead of the previously offered six months, as reported – for concession charges relating to monthly instalments from February-July 2020.

It said that this change in terms was necessary as the concessionaires are still being affected by the “severe and continuing” COVID-19 outbreak in many countries as well as governmental travel restrictions.

Concessionaires at airports including Suvarnabhumi have been granted further payment terms assistance by AOT

It added, however, that this assistance measure will be applicable only to the concessionaires who had already submitted a letter of request for payment terms extension to AOT.

For those who submit a request after the date of the AOT Board of Directors’ resolution (29 July 2020), they will be eligible for such an assistance measure “without a retroactive effect, from the instalment due whereby the concessionaires submit such a letter to AOT”.

The new 12-month terms will not at this stage be extended to the months of August-December 2020, with six months credit terms of payment remaining in place for that period.

AOT became the first airport owner to offer a relief package to its commercial partners in February this year, when measures including a -20% discount on fixed monthly fees from 1 February-31 January 2021 were offered.

The airport company operates Suvarnabhumi, Don Mueang International, Phuket International, Chiang Mai International, Hat Yai International, and Mae Fah Luang-Chiang Rai International airports.