AOT first-quarter profit was 4,563 million baht, a 1,231% increase, driven by increased flights-passengers. Suvarnabhumi Airport Master Plan Moves Ahead with Review Increasing the target capacity to accommodate passengers to 150 million passengers per year from the original 120 million, replacing Japan's Chitose airport model.
Thailand Public Company Limited (AOT) Airports 342.77 million reported in the first quarter of 2024 (Oct. – Dec. 2023) with a net profit of 4,563.03 million baht, a net profit of 0.32 baht, an increase of 1,231.22% in net profit. Net profit per share was 0.02 baht
Revenue from sales or services increased by 6,883.62 million baht or 78.01%.
Revenue related to flight operations increased by 2,725.56 million baht or 62.64%
Non-aeronautical revenue increased by 4,158.06 million baht or 92.96% due to increase in number of flights and number of passengers. Other income increased by 33.68 million baht or 70.09%.
For the three-month period ended December 31, 2023, revenue related to aviation operations was 7,076.66 million baht, an increase of 2,725.56 million baht or an increase of 62.64% compared to the same period of the previous year. Outbound passenger service revenue increased by 1,882.14 million baht, an increase of 52.19%.
It increased by 25.49% due to the increase in the total number of passengers at all 6 airports. Also, the airport service income increased to 816.55 million baht or 138.41%, and the total number of flights increased by 18.51%.
Yesterday (12 Feb 2024) Mr. Keerati Kidmanawat Chairman and CEO of AOT or AOT said the company is in the process of reviewing the Suvarnabhumi Airport Master Plan.
By reviewing the grand plan and submitting it to the Ministry of Transport, increasing the target capacity to accommodate passengers to 150 million people per year from the original 120 million people. National Economic and Social Development Board (NESDB) and the Cabinet (Cabinet) to agree on changes in the work plan. It is expected to be within the original budget range.
The Revised Master's Program includes:
- Investment in the western extension of the passenger terminal (West Extension), approximately 9,000 million baht.
- Northern expansion, budget approximately 40,000 million baht
- South Terminal, the budget is approximately 100,000 million baht
- Second level concourse building (SAT-2), 28 parking spaces (same as SAT-1), budget approximately 30,000 million baht.
- Runway No. 4, which will accommodate approximately 30 million additional passengers/year, with a budget of nearly 20,000 million baht.
Meanwhile, AOT is moving ahead with construction plans for the 9,000 million baht passenger building's East Extension (East Extension), which will increase the area by no less than 60,000 square meters to accommodate 15 million passengers a year.
Currently, the construction design is being revised according to the changing aviation environment. It will be finalized and submitted to the Ministry of Transport and Cabinet (Cabinet), and the eastern extension is expected to be tendered in May. Completed in 2027.
From an inspection visit to Chitose Airport, Mr. Keerati said. It will be used as one of the models for the renovation of Japan's Suvarnabhumi Airport. Don't focus exclusively on integrated commercial space management profitability. But it will allow passengers to participate in the use of space as much as possible.
At the same time, by 2024, travelers are forecast to return to 65 million people per year, similar to 2019 (pre-Covid).