At the end of the morning session on Thursday, the share price of Asia Aviation Public Company Limited (SET: AAV) surged by 6.19% or THB 0.07 to THB 1.20, with a trading value of THB 162.99 million.
Bangkok Airways Public Company Limited (SET: BA) gained 4.83% or THB 0.70 to THB 15.20, with a trading value of THB 62.65 million.
Thai Airways International Public Company Limited (SET: THAI) rose by 2.22% or THB 0.15 to THB 6.90, with a trading value of THB 46.41 million.
KGI Securities (Thailand) (KGI) noted that the Thai tourism sector is expected to remain buoyant in the first quarter of 2026, continuing the high season observed in the fourth quarter of 2025.
The outlook for international arrivals shows a positive trajectory for 2026 after a contraction in tourist numbers last year. Although January saw a year-on-year decline, KGI anticipates an overall improvement in tourism activity from February onwards, with figures expected to surpass those recorded in 2025.
Tourism in February is set to benefit from the Lunar New Year festival, likely boosting the number of Chinese visitors. This comes in contrast to the previous year, when Chinese arrivals dropped by 45% following a high-profile kidnapping incident.
Furthermore, the analyst believes that Thailand stands to attract more Chinese travelers, particularly after a recent ban discouraged travel to Japan. The Tourism Authority of Thailand has also ramped up promotional activities, enlisting Lalisa ‘Lisa’ Manoban as an ‘Amazing Thailand Ambassador’ to further bolster the sector’s appeal.
Despite the brighter tourism outlook, KGI maintains a ‘Neutral’ stance on airline stocks, citing limited upside potential, setting a target price of THB 1.35 for AAV and THB 10.50 for THAI.
