AOT’s losses drop this year as Thailand reopens to tourists

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https://www.nationthailand.com/thailand/economy/40022328

AOT's losses drop this year as Thailand reopens to tourists

AOT’s losses drop this year as Thailand reopens to tourists

TUESDAY, NOVEMBER 22, 2022

As per data provided to the Stock Exchange of Thailand (SET), the Airports of Thailand (AOT) recorded a net loss of 11.09 billion baht for the 2022 fiscal year ending on September 30.

However, AOT said losses this year had dropped from 16.32 billion baht recorded in the last fiscal year.

In its filing to the SET, AOT said its earnings had increased because flights and passengers were returning to Thailand now that it has fully reopened.

The AOT reported an income of 17.89 billion baht, up 131.17% or 10.35 billion baht from the previous fiscal year.

The AOT said its main cost was the salaries paid to its employees, adding that the revenue could be divided into three main categories:

• 7.29 billion baht from flights, up 213.05% or 4.96 billion from last year

• 9.27 billion baht from sources other than flights, up 94.87% or 4.51 billion baht

• 13.33 billion baht from unrelated sources, up 190.56% or 873 million baht. The largest revenue in this group was profit from exchange rates.

During the 2022 fiscal year, 394,469 flights landed in AOT’s six airports marking a surge of 60.84%, compared to the 2021 fiscal year. The number of passengers, meanwhile, came in at 46.69 million, up 133.35%.

The AOT said its overall expenses in the 2022 fiscal year stood at 28.825 billion baht, up 14.77% or 3.71 billion baht from the previous year. It said salaries accounted for 7.78 billion baht of the expenses.

As of September 30, AOT’s assets stood at 183.81 billion baht, down by 5.78% year on year, while its liabilities dropped by 0.45% to 81.29 billion baht.

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