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Airports of Thailand full-year profit up 22 percent but tourism wanes

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Airports of Thailand full-year profit up 22 percent but tourism wanes

 

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FILE photo

 

BANGKOK (Reuters) - Airports of Thailand Pcl (AOT) <AOT.BK> reported a 21.7 percent jump in full-year net profit on higher revenue from flights and services across its six airports, although falling numbers of tourists could weigh on future earnings.

 

The state-owned airport operator on Thursday reported net profit of 25.17 billion baht ($763.9 million) for its fiscal year ending in September, up from 20.6 billion baht a year earlier.

 

AOT said that growth was in line with the tourism sector and the rapid expansion of budget carriers.

 

Aeronautical revenue, which includes landing fees and passenger service charges, was 33.9 billion baht, up 10.25 percent from a year go with the number flights across the six airports up 6.24 percent.

 

Revenue from concessions and services rose 10.28 percent to 26.5 billion baht.

 

AOT, a prime beneficiary of Thailand's tourism boom, has however been struggling to cope with overstretched capacity.

 

Bangkok's Suvarnabhumi airport currently has a capacity of 45 million passengers a year, but handles 60 million. That has led to complaints about long immigration lines and deteriorating infrastructure.

 

Earlier this month construction of a second passenger terminal at the airport was suspended pending a review from the International Civil Aviation Organization (ICAO).

 

Tourism receipts account for about 12 percent of GDP in Southeast Asia's second-largest economy but there are signs the number of tourist arrivals is slowing, which analysts said could put short-term pressure on earnings.

 

The number of Chinese tourists is already down following a boat accident that killed 47 tourists in July.

 

The Thai government has scrambled to introduce new measures to restore tourism such as visa fee waivers.

 

(Reporting by Chayut Setboonsarng; Editing by Adrian Croft and Kirsten Donovan)

 
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-- © Copyright Reuters 2018-11-30
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3 minutes ago, webfact said:

Airports of Thailand full-year profit up 22 percent but tourism wanes

I think Reuters has got it wrong, the Tourism minister stated tourist numbers are up 20%......who do you believe?

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Could fix the long lines with all the immigration staff needed where filling the immigration gates instead of half being empty.

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23 hours ago, Bert Jones said:

 

That said, I still love Thailand...but I'm contemplating a move to Malaysia...just as beautiful and much cheaper or even Vietnam. I've started to tire of the expense and dangers here. 

It's harder work being a tourist here. It's ridiculously difficult to find an honest taxi driver anywhere in this country. There is raw sewage flowing into the sea   on Phuket and Pattaya. Islands with overflowing piles of garbage (Samui and Koh Larn). Scammers at the Grand Palace and other challenges for the less adventurous that are here to spend their hard earned money.

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18 hours ago, fruitman said:

And the mediterranean sea is very clear, lifeguards everywhere, real police, real ambulances, cheap alcohol, good boats, nice trips, lots to do, not many scams, real museums, real old buildings, real culture, good manners, no mosquito's....

I agree. Europe and Mediterranean is gorgeous. The women? Not so much when compared to Asian women. Not many men are keen to bed a hairly Mediterranean woman or an unwieldy southern European woman. 

 

And that is usually a deal breaker 

Edited by Fex Bluse
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On 11/29/2018 at 6:55 PM, Bert Jones said:

I flit between CR and CM having apartments in both cities (CR in partners name). I know from first hand experience that visitor numbers are down from what they were 3 years ago. Thailand isn't cheap! and most returning visitors that I meet attest to this. The baht is too strong against the euro and £ and lets face it, Europe is beautiful too, Spain, Italy, Portugal, Croatia and France have some wonderful resorts and beaches...my feel is that Thailand will be seen as an exotic but expensive holiday...and once the dangers are known, it will be less popular and viewed as an aspirational whim. Thailand is dangerous, Europe is safe. I would never recommend families with younger children ever come to Thailand...my God, we don't even have pavements here! just going out for as stroll is a dangerous mission in itself, roads here are so scary and the highest death rates of any country.

That said, I still love Thailand...but I'm contemplating a move to Malaysia...just as beautiful and much cheaper or even Vietnam. I've started to tire of the expense and dangers here.

"Thailand isn't cheap! and most returning visitors that I meet attest to this. The baht is too strong against the euro and £ and lets face it, Europe is beautiful too, Spain, Italy, Portugal, Croatia and France have some wonderful resorts and beaches..."

 

Thailand has to be much cheaper than any part of France or Italy one would want to live in.

 

Perhaps a few areas of Spain are almost as cheap as Thailand?

 

Portugal perhaps equal in some areas?

 

I imagine Croatia could be similar or perhaps cheaper than Thailand.

 

Am I wrong?

 

 

Edited by JimmyJ

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3 hours ago, JimmyJ said:

"Thailand isn't cheap! and most returning visitors that I meet attest to this. The baht is too strong against the euro and £ and lets face it, Europe is beautiful too, Spain, Italy, Portugal, Croatia and France have some wonderful resorts and beaches..."

 

Thailand has to be much cheaper than any part of France or Italy one would want to live in.

 

Perhaps a few areas of Spain are almost as cheap as Thailand?

 

Portugal perhaps equal in some areas?

 

I imagine Croatia could be similar or perhaps cheaper than Thailand.

 

Am I wrong?

 

 

It looks like you guys have not been to the Mediterrenian for quite a while. Even though prices in Thailand are up and the exchange rate gets worse Thailand is much cheaper. In Thailand you can get a beautiful 5star resort at THB 3000 to 5000 a night incl. bf, in Europe you will nowhere find that, prices are at least double. Same with restaurants and gasoline. Cheaper wine does not compensate it. And now in winter at 10°C with frequent rainy periods who will feel comfortable there?

Certainly there are a lot of things to improve in Thailand but I can predict, should all the required aspects be availabe in Thailand, you will pay the same prices as in Europe.

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