National airports operator Airports of Thailand (AoT) has posted a 90% drop in profit for the fiscal year ending 30 September, after it was hurt by the economic downturn and political unrest. Total revenue fell 20% to 21.5 billion baht ($647 million) from 26.7 billion baht in the corresponding period last year, says AoT.

Net profit decreased 90% to 717 million baht from 7.3 billion baht a year ago, it adds.

“The decrease on the financial performance was mainly due to the worldwide economic recession together with the 2009 flu pandemic and the domestic unrest situation which had caused an adverse impact to Thailand’s tourist industry,” says senior executive VP planning and finance Supaporn Burapakusolsri.

suvarnabhum_0209 airport

via Airports of Thailand reports 90% fall in full-year profit.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Reshoring China Production to Thailand: Key Sectors that Benefit

Thailand is benefitting from Sino-US trade tensions with several Chinese-based firms relocating part of their supply chain to Thailand, especially for electronics, chemicals, and automotive

A short Guide to Taxation in Thailand

If the land or building is left empty or unused for a period of more than three consecutive years, it will be subject to an additional rate of 0.3% every three years, but the amount will not exceed 3%.

Thailand Opens Digital Free Trade Hub in partnership with Alibaba

The launch of the digital free trade hub is part of Thailand’s efforts to position itself as one of Southeast Asia’s key logistics centers for trade and e-commerce.