21-11-2023 (BANGKOK) Airports of Thailand Plc (AoT) has reported a net profit of 8.79 billion baht in fiscal 2023, marking a significant turnaround from the 11.09 billion baht net loss in fiscal 2022. The company anticipates a return to pre-Covid levels of performance next year, according to CEO Kirati Kitmanawat.
All six airports under AoT’s operation, including Suvarnabhumi, Don Mueang, Chiang Mai, Chiang Rai, Phuket, and Hat Yai, demonstrated improved performance in the recently concluded fiscal year. The recovery in the post-Covid scenario has contributed to the positive outcomes in the aviation and tourism sectors.
In fiscal 2023, these six airports collectively served 639,891 flights, reflecting a notable 62.22% year-on-year increase. Passenger numbers surged by 114.31%, handling 100.06 million passengers during the period.
CEO Kirati Kitmanawat stated, “In 2023, we had 100 million passengers. In 2019, before Covid, there were 120 million passengers. We expect the number will be close (to the pre-Covid amount) in 2024.”
The government’s visa-free scheme for the high season has played a pivotal role in boosting visitor numbers. Chinese visitors increased from 13,000 to 16,000 per day, Kazakhs rose from 230 to 500 per day, Indians grew from 5,000 to 6,000 per day, and Taiwanese visitors increased from 3,000 to 4,500 per day.
To support the growth in tourism, AoT is actively developing its six airports. A third runway is scheduled to open at Suvarnabhumi next year, enhancing its capacity from 68 flights an hour to 94 flights an hour. AoT plans to invest 96 billion baht in airport development from 2024 to 2029.
