Airports of Thailand Public Company Limited (SET: AOT) has approved a new payment relief scheme aimed at supporting concessionaires and airlines grappling with persistent liquidity challenges.
AOT announced the resolution of the AOT Board of Directors, in the Meeting No. 1/2025, dated 22 January 2025, approving the extended payment terms scheme for concessionaires and airlines facing liquidity problems at AOT’s six airports to enable AOT to retain potential concessionaires and airlines, facing liquidity problems due to ongoing economic downturn after the Coronavirus Disease (COVID-19) pandemic situation, coupled with unrest in many areas around the world, to continue their businesses.
King Power Duty Free Company Limited (KPD) submitted a letter dated 23 June 2025 to AOT to request for participation in the scheme. The AOT Board of Directors, in the Meeting No. 9/2025 held on 25 June 2025, resolved to acknowledge the resolution of the AOT Revenue Consideration Committee, in the Meeting No. 11/2025, dated 23 June 2025, approving KPD’s participation in the extended payment terms scheme for concessionaires and airlines facing liquidity problems at AOT’s six airports for all three contracts, namely (1) Duty-free concession contract at Suvarnabhumi Airport (BKK) (2) Duty-free concession contract at Don Mueang International Airport (DMK), and (3) Duty-free concession contract at Phuket International Airport (HKT), Chiang Mai International Airport (CNX), and Hat Yai International Airport (HDY). In essence, KPD’s minimum guarantee payments are to be split into installments and extended for another 8 months of each trance as follows:
1) June – October 2025 for duty-free concession contract at BKK (except for the tranche for June 2025 which is to be extended for another 6 months).
2) September – October 2025 for duty-free concession contract at DMK
3) July – October 2025 for duty-free concession contract at HKT, CNX and HDY
AOT stated that KPD must pay interest at the rate of 8.8440 percent per year (MLR+2) of each tranche of overdue minimum guarantee to AOT every month. Also, KPD must provide additional collateral of 1.45 billion Baht (total value of all three contracts) to AOT to cover the deferred amount of minimum guarantee plus interest, to ensure its financial obligations in case of unexpected events.
Additionally, AOT assures that AOT still has a robust and stable financial position, and adequate liquidity for future investment projects and operations as planned without any impact on AOT’s financial stability.
