AOT Expects ฿40 billion of Profits in FY20/21, Earning Revenue from King Power group

AOT Expects ฿40 billion of Profits in FY20/21, Earning Revenue from King Power group

Airports of Thailand Public Company Limited (AOT) expects the profit in FY20/21 (October 2020-September 2021) jump to THB40 billion from THB25 billion in FY17/18 or increased by THB15 billion. Due to the King Power group has offered the minimum guarantee of the 3 contracts, which are duty-free shops and commercial areas at Suvarnabhumi Airport, and duty-free shops of 3 regional Airports, amounting of THB23.5 billion. Therefore, in FY20/21, AOT expects to earn a revenue share from the 3 contracts in the amount of THB8.8 billion, increasing 3 times than the current revenue share.

Moreover, AOT also receives the revenue from other businesses which are Airport City, Certify Hub, Commercial Service, and Digital Platform. All these businesses have been making a huge profit to AOT approximately THB10 billion during the FY18/19 to FY20/21.

In the part of duty-free pick-up counter concession at Suvarnabhumi Airport, AOT expects to open for bidding in December 2020 to the beginning of 2021 as the committee had voted previously.

Meanwhile, the turnover of AOT in FY18/19 (October 18- September 19) expects to reach a highest level again when compared to the previous year which a net profit was at the highest level of 25 billion, even though the growth of passenger was only 1.8% (lower than expected) in the first 6 months of the fiscal year.

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