COVID19: Airports of Thailand takes a battering in 1Q2020
The partially privatised – by way of an IPO – Airports of Thailand (AOT) is the latest in a string of airport operating groups to announce severe reductions in revenues and profits in 1Q2020 on account of flight cancellations prompted by the current pandemic.
AOT is responsible for the operation of six airports, including the two in Bangkok, and also the operations and management of four state-owned airports since 2019. The scale of the increase of negative figures in the AOT results shown demonstrates the depth of the impact on the group from flight cancellations, especially during Mar-2020.
Thailand is highly dependent on tourism, which accounts for between 10% and 20% of the country’s GDP of THB12 trillion annually, and AOT will be expected to help kick-start that tourism business again as soon as it can.
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