Airports of Thailand (AOT) Announced Strong First Half Results with 300,000 Flights, 61.22 Million Passengers, and a Net Profit of 10 Billion Baht

Airports of Thailand (AOT) reported its strong financial results for the first half of fiscal year 2024, with 367,032 flights, 61.22 million passengers, and a net profit of 10,347.62 billion baht. This represents a significant increase of 16.86% in flights and 23.78% in passengers compared to the same period last year.

Dr. Kirati Kitmanawat, Chief Executive Officer, said, “The overall air traffic volume of AOT from October 2023 to March 2024 totalling 367,032 flights increased by 16.86% compared to that of the corresponding period of the prior year, comprising 203,731 international flights and 163,301 domestic flights. The total number of passengers was 61.22 million passengers which increased by 23.78% compared to that of the corresponding period of the prior year, comprising 36.82 million international passengers and 24.40 million domestic passengers”

Comparing the first quarter and the second quarter, flight volume increased by 5.95% from 178,214 flights to 188,818 flights. This growth included a 10,949-flight increase in international flights and a 345-flight decrease in domestic flights. Passenger volume also rose by 11.96% from 2.88 million to 3.23 million passengers. This increase was attributed to a 17.86% rise in international passengers to 3.01 million and a 3.65% increase in domestic passengers to 0.43 million.

The implementation of the Thai government's Free Visa policy has resulted in a significant surge in passenger arrivals from China and India. The number of Chinese passenger has witnessed a remarkable surge, with the average increasing by 113% from 13,200 to 28,100 passengers per day. Along with the surge in Chinese passenger, the average number of Indian passengers have grown by 22%, reaching 6,200 from 5,100 daily.

For the six-month period ended March 31st, 2024, AOT generated net profit of Baht 10,347.62 million increased by 369.94% compared to the prior year’s corresponding period, total revenue of Baht 34,191.67 million increased by 71.31% compared to the prior year’s corresponding period. Revenues from sales or services increased by Baht 14,116.99 million or 71.21% as a result of an increase in aeronautical revenue of Baht 5,533.66 million or 55.88% and non-aeronautical revenue of Baht 8,583.33 million or 86.51% because of the rise in the total number of flights and passengers. Total expenses of Baht 19,482.32 million increased by Baht 3,856.08 million or 24.68% compared to those of the prior year’s corresponding period. The significant change was primarily due to an increase in expenses relating to SAT-1 terminal.

For the second quarter of fiscal year 2024, three-month period ended March 31st, 2024, AOT generated net profit of Baht 5,784.59 million increased by Baht 1,221.56 million or 26.77% compared to the first quarter. Total revenues increased by Baht 2,500.55 million or 15.86% while total expenses increased by Baht 854.87 million or 8.61%.

AOT is all set to support Thailand to become a global aviation hub connecting air transport and travel in Asia Pacific region according to the government policies on impelling Thailand to be ranked 1 of 20 best airports in the world, enhancing its capacity of handling passengers. In addition, in 2024, Suvarnabhumi Airport prepares for the opening of the 3rd runway to increase aircraft handling capacity from 68 flights per hour to 94 flights per hour. Moreover, AOT has implemented technology and innovation in the Common Use Passenger Processing System (CUPPS) to increase the efficiency of passenger services, providing convenience and speed, as well as reducing waiting times and solving out the bottleneck problems to alleviate passenger congestion in peak hours.

AOT is firmly committed to developing its airports to meet the growing demand for passenger traffic in the future. Moreover, AOT will continue to play a pivotal role in propelling the aviation and tourism industries, generating revenue, and fostering Thailand's economic growth, all in alignment with the government's policies.