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Airport Operator Sees 400% Surge in Profit Over a 6-Month Period

Airports of Thailand Plc (AoT) has announced a net profit of 10.35 billion baht for the initial half of the fiscal year 2004, marking a substantial leap of nearly 400% compared to the corresponding period in the previous year.

This surge in profit mirrors a consistent uptrend in passenger traffic across AoT’s six international airports, notably including Suvarnabhumi.

In a disclosure to the Stock Exchange of Thailand, AoT revealed a revenue of 34.19 billion baht for the period spanning from October 1 of the preceding year to March 31 of the current year, marking an impressive 71.3% year-on-year increase.

During this time frame, the company managed 367,032 flights, marking a 16.9% uptick compared to the same period in the earlier year. Passenger volumes also saw a notable surge, with a 23.8% increase to reach 61.22 million passengers.

CEO Kirati Kitmanawat highlighted that out of the total flights handled, 203,731 were international while 163,301 were domestic. International passengers accounted for 36.82 million, with domestic passengers totaling 24.4 million.

Further analysis between the first and second quarters of the fiscal year revealed a 6% increase in flights to 188,818. Passenger numbers also grew by 12% to 32.3 million during this period.

On the passenger front, the government’s visa-free policy notably boosted Chinese arrivals, more than doubling the daily average from 13,200 to 28,100 during the second quarter. Additionally, Indian passenger numbers witnessed a 22% rise to 6,200 daily.

Closing at 67 baht on Wednesday on the Stock Exchange of Thailand, AoT’s shares remained unchanged, with trading activity amounting to 1.7 billion baht.

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