THAILAND. Airports of Thailand (AOT) has reported non-aeronautical revenue of THB16.6 billion (US$511 million) for the six-month period ended 31 March, down by -4.47% year-on-year.
Concession income fell -8.55% to THB9.9 billion (US$304.7 million), weighed down by a decline in duty-free and souvenir shop performance, according to AOT.
The weaker concession performance comes amid broader changes to AOT’s concession structure.
On 3 December, the airport company announced amendments to its duty-free concession agreements with anchor tenant King Power Duty Free following Board-approved measures aimed at addressing financial challenges affecting the retailer’s operations across several major Thai airports.
The decline impacted the company’s broader financial performance, contributing to a -0.35% drop in total revenue to THB36.1 billion (US$1.1 billion). Operating profit fell -3.85% to THB14.4 billion (US$443 million), while profit before tax and net profit declined -3.39% and -0.84%, to THB13.26 billion (US$408 million) and THB10.64 billion (US$327.5 million), respectively.
AOT also highlighted challenges for the remainder of FY2026, citing the Middle East conflict, which has sharply increased airlines’ fuel costs and pushed airfares higher.
The company, which operates six airports including Suvarnabhumi and Don Mueang in Bangkok, alongside Chiang Mai, Hat Yai, Phuket and Mae Fah Luang Chiang Rai, reported a +4.19% rise in passenger traffic to 71.29 million during the period. The total included 43.34 million international passengers and 27.95 million domestic passengers.
For the three months ended 31 March, non-aeronautical revenue edged up +1.1% over the previous year to THB8.62 billion (US$265 million), despite concession revenue plunging -39.25% to THB5.15 billion (US$158.5 million), primarily due to lower duty-free income.
The company delivered stronger quarterly results, reporting total revenue of THB18.9 billion (US$581.7 million), up +2.74% year-on-year. Operating profit increased +6% to THB7.9 billion (US$243 million), while profit before tax rose +7.40% to THB7.3 billion (US$224.7 million) and net profit jumped +12.48% to THB5.88 billion (US$180.4 million). ✈
