On Tuesday, the share price of Airports of Thailand Public Company Limited (SET: AOT) at the time of 11:37 a.m. was at THB 35.25, a THB 1.75 or 5.22% increase with a total trading value of THB 2,297.67 million.
AOT’s share price continued its upward trajectory in the morning session, driven by renewed investor interest as positive factors become increasingly evident.
Of particular focus is the ongoing negotiation with the King Power Corporation, the main concessionaire for duty-free retail at Thailand’s major airports—a key revenue stream for AOT. Investors are closely watching how these negotiations will be concluded.
A source from AOT revealed to “Kaohoon” that the company has already engaged a professional consulting team to review the existing contract between AOT and King Power.
The experts are now analyzing the finer details of the agreement to determine whether King Power’s requests comply with contractual terms. Several possible outcomes are under consideration, including amending contract conditions such as reducing certain returns, or extending the debt repayment period with new interest terms.
However, should the parties fail to reach an agreement, AOT may resort to exercising its contractual rights by invoking the bank guarantee currently held as collateral—a risk-mitigation measure embedded in the contract.
Despite this unresolved issue, the ongoing recovery in passenger numbers has emerged as a key positive catalyst supporting AOT’s share price. Market observers expect more clarity regarding the outcome of talks with King Power by October.
Additionally, the sources indicated that a major fund from Singapore recently visited Thailand to conduct due diligence on the country’s aviation sector. There is speculation that their intention may be to evaluate an investment in AOT shares, which are currently considered undervalued. If confirmed, such a move would be a bullish signal that foreign funds view AOT as an attractive long-term growth stock.
Foreign institutional investments during market downturns often reflect confidence in a company’s long-term fundamentals, indicating a strategic approach rather than short-term speculation. If such investments materialize, they could further bolster AOT’s share price in the near future.
