Mr. Kirati Kitmanawat, Chief Director of Airports of Thailand Public Company Limited (SET: AOT), estimated that during the New Year 2024 festival, traffic through six AOT’s airports will be around 2.65 million or 379,830 passengers per day, increasing by 35.5% compared to last year. Meanwhile, operating flights will increase 27.4% to 15,152 or 2,165 flights per day.
Suvarnabhumi Airport (BKK), having the most amount of air traffic, was expected to serve 1.34 million passengers or an average of 192,000 passengers per day, increasing by 38.8%, and operate 6,955 flights or an average of 944 flights per day.
Don Mueang International Airport (DMK) was expected to serve 625,309 passengers or an average of 89,330 passengers per day, increasing by 27.6%, and operate 3,998 flights or an average of 571 flights per day.
Chiang Mai international Airport (CNX) was expected to serve 240,249 passengers or an average of 34,321 passengers per day, increasing by 44.1%, and operate 1,379 flights or an average of 197 flights per day, increasing by 29.6%.
Mae Fah Luang International Airport (CEI) was expected to serve 40,558 passengers or an average of 5,794 passengers per day, decreasing by 2.2%, and operate 280 flights or an average of 40 flights per day, decreasing by 3.4%.
Phuket International Airport (HKT) was expected to serve 347,650 passengers or an average of 49,664 passengers per day, increasing by 48.5%, and operate 2,144 flights or an average of 306 flights per day, increasing by 53.3%.
Hat Yai International Airport (HDY) was expected to serve 60,660 passengers or an average of 8,666 passengers per day, decreasing by 1.7%, and operate 396 flights or an average of 57 flights per day, decreasing by 6.6%.
Mr. Kirati added that AOT had brought 5 Common Use Passenger Processing Systems (CUPPS) technology and invention to implement in the service as follows:
- Common Use Terminal Equipment (CUTE)
- Common Use Self Service (CUSS)
- Common Use Bag Drop (CUBD)
- Passenger Validation System (PVS)
- Self-Boarding Gate (SBG)
The resolution of the Board of Directors meeting of Airports of Thailand Public Company Limited (AOT) No. 14/2023 on 22 December 2023, had reached the conclusion to appoint Miss Kanphakamon Sophatphirunnasak to be the director of AOT and independent director, taking the position from Mrs. Pongsawat Neelayothin. The effective date was on 22 December 2023 onwards.
Krungsri Capital Securities anticipated the net profit of AOT in 2024 (Oct 2023 – Sep 2024) to grow more than 156% YoY. Passengers and flights are expected to continue growing due to its low base, while income from concessionaires will rise above pre-Covid level from the new Minimum Guarantee contract.
AOT is trading on PER in 2024 at 30.5 times, which is below its average historic price of about 35-40 times. In addition, Krungsri Capital recommended “BUY” on AOT with a target price at THB 73.25 per share. On Friday, AOT slid by 0.41% to close at THB 60.25, with the market value of THB 1.2 billion.
