THAILAND. Airports of Thailand (AOT) today reported first-quarter results (to 31 December 2022), with non-aeronautical revenues reaching Bt 4,472.92 million (US$132.6 million), over +200% up year-on-year amid the recovery of the business. This remains well down on the figure of Bt7,099 million (US$227.9 million) from October to December 2019, or fiscal Q1 2020.
The recent increase was largely down to a +390% leap in concession revenues to Bt1,834.78 million (US$54.3 million), which AOT attributed to rising duty free, food & beverage and other commercial revenues.
The figures were buoyed by sharp growth in passenger traffic, which surged by +232% year-on-year to 23 million. This included almost 11 million international and 12 million domestic passengers.
Total revenues for the airports group in the period reached Bt8,872 million (US$263 million), up +207% year-on-year, with net profit at Bt342.7 million (US$10.1 million).
In its Q1 report, AOT highlighted its traffic forecasts from last June, which indicated a return to 68% of pre-pandemic levels (95.7 million passengers) in this fiscal year. For fiscal year 2024, AOT said it expects 141.57 million passengers, or a recovery to 99% of pre-crisis levels. ✈
