ASEAN KEY DESTINATIONS
Thai airports suffer loss
The results still surprised analysts who had earlier projected that the state-controlled airport operator would report a profit of around 400 million baht in the April-June period.
Third-quarter operating revenue grew 30.8 percent year-on-year to 6.88 billion baht while operating expenses rose 15.7 percent to 5.47 billion baht.
AoT senior executive vice-president Supaporn Burapakusolsri attributed the smaller loss in the third quarter, normally a low season for air travel, to increased traffic through its six airports including Suvarnabhumi and a lower foreign-exchange loss.
Passenger traffic in the period increased 30.77 percent from a year earlier, with aircraft movements up 19.7 and cargo volumes rising 42 percent.
AoT recorded a foreign-exchange loss of 566 million baht, down 23.8 percent from a year earlier.
Analysts also suggested that the end of discounts on landing and parking charges in December 2010 had also contributed to the narrowing in the loss.
For the nine months to June, AoT made a net profit of 2.36 billion baht (1.66 baht a share), compared with 2.05 billion (1.44 baht a share) in the same period a year earlier. Nine-month revenue was up 15.77 percent year-on-year to 21.26 billion baht.
AoT is expected to see an improvement in its fourth-quarter results as traffic demand picks up, partly due to the absence of domestic political violence which in the past few years had dragged down passenger traffic, analysts said.
AOT shares closed yesterday on the SET at 43.25 baht, down 50 satang, in trade worth 484.26 million baht.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below