Airports of Thailand hit by economic slowdown

Nicole Mezzasalma

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Non-aeronautical revenues in the first three months of 2009 were down by nearly 20%

Airport authority Airports of Thailand (AoT) has registered a 19% decrease in operating revenue to Bt5.74bn ($167.3m) in the first three months of 2009 compared with the same period the previous year. Non-aeronautical revenues were down by nearly 20% to Bt2.28bn ($66m), which AoT attributed to the relief package to assist airlines and operators at its airports, including rent reductions and the waiving of minimum monthly guarantees paid by concessionaires. The company said the global economic slowdown and domestic unrest had affected tourism in Thailand.

AoT added in a statement: “Furthermore, in [the quarter] AoT recorded revenues from two private companies that operated duty-free business and commercial management projects, whereas in [the previous corresponding period] AoT recorded only revenues from the duty-free business. The revenues from commercial management projects were recorded in [the last quarter of 2008] in accordance with the Temporary Injunction of the Civil Court on April 25 2008.”

For the first six months of the financial year, AoT’s operating revenue fell by 11% to Bt11.1bn ($324m) while non-aeronautical revenues grew by 7.5% to Bt4.76bn ($137.7m)