THAILAND. Airports of Thailand (AoT) concession revenues leapt by +10.78% in the first nine months of the 2010 financial year (to the end of June), compared to the same period a year earlier, with the figure hitting Bt3.99 billion (US$126 million). Concession revenues cover income to AoT accruing from duty free, food & beverage, airline catering, car parking, advertising, aircraft fuelling, banking and other activities.
The growth came against the backdrop of a +13.03% surge in total revenues at the Thai airports group, to Bt18.36 billion (US$582 million) in the period. EBITDA was Bt10.1 billion (US$320 million), up by +13.09%, while net profit hit Bt2 billion (US$63.4 million), a leap of +40%.
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Non-aeronautical revenues accounted for 41.79% of all AoT revenues in the nine-month period.
Passenger numbers across the group’s airports hit 43.64 million in the period, climbing +17.9% on a year earlier. International passenger traffic was 27.04 million, up from 22.78 million in 2009. The key gateway of Bangkok Suvarnabhumi accounted for 32.2 million of the overall total, up +19.53% on last year.
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The strong nine-month numbers came despite a weak third quarter (April to June), following the recent political unrest in the country, which damaged tourism demand.
As reported, Airports of Thailand announced a -139.29% fall in profitability for the third quarter to a loss of THB516.23 million (US$16.22 million).
The company has also spelled out a range of proactive measures it has taken to aid its airline and concessionaire partners during this difficult period.
More positively, AoT said that due to the country’s current economic recovery and the continuous economic stimulus measures from the government, tourism has since recovered and is expected to increase overall in 2010 – compared to a year-on-year drop in 2009.
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AoT also revealed more of its development plans for its key airports. A new Domestic Terminal is planned at Bangkok Suvarnabhumi, while expansion of the International Terminal is now planned in the period to 2016, including the addition of 28 new gates.
At Phuket, a new International Terminal is planned, as is a renovation of the existing terminal, by 2013.
Among the key commercial projects in the pipeline are (at Suvarnabhumi) a new hotel, hospital, golf course and exhibition centre, while new private jet terminals are also planned at Phuket and Chiang Mai airports.
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