webfact Posted February 20, 2020 Share Posted February 20, 2020 AOT faces plunge in passengers, impact from relief measures By THE NATION The total number of passengers at the six airports under Airports of Thailand (AOT) might contract by 10 per cent if the novel coronavirus outbreak drags on further, said president Nitinai Sirismatthakarn on Thursday (February 20). As of February 16, the total passenger number posted a negative growth of between 2.5 per cent and 2.6 per cent. AOT board on February 19 approved relief measures for business operators at the six airports. Topping the measures is a 20- per cent reduction on fixed monthly fees from February 1 2020 to January 31, 2021. AOT will review the measure next year in line with the situation at the time. It only applies to operators under contracts of fixed revenue sharing. The measure for non-fixed revenue sharing includes waiving collection of the annual and monthly minimum guarantee during February 1, 2020 to March 31, 2022. It will collect only the per cent-based fee. However, AOT reserves the right to make changes, corrections, cancellations of conditions of assistance measures for operators whenever appropriate, in accordance with the situation and impacts from the COVID-19 outbreak. Nitinai said that AOT had considered these relief measures carefully. By easing the financial burden of business operators during the virus crisis, they will be able to continue their operations. If not offering any help at all, they will soon be asking AOT to terminate their contracts. AOT will have to call a fresh bid to bring in new operators and no one can guarantee if any company will be interested to enter the bid at this time. Some securities houses have revised downward their forecast of AOT net profit this year on the assumption that the relief measures might hit its financial performance. AOT share price on Thursday (February 20) plunged 4.80 per cent to close at Bt64.50. Source: https://www.nationthailand.com/business/30382524 -- © Copyright The Nation Thailand 2020-02-21 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
Popular Post Dexlowe Posted February 20, 2020 Popular Post Share Posted February 20, 2020 Good old AOT. Let's help our mates so they can fill their brown envelopes next year. 3 Link to comment Share on other sites More sharing options...
ezzra Posted February 20, 2020 Share Posted February 20, 2020 More like a drop of 50% and don't cry too much TOT, you have been raking in billions when the good times rolled so now dig into your coffers a bit until the next good times... 2 Link to comment Share on other sites More sharing options...
RichardColeman Posted February 21, 2020 Share Posted February 21, 2020 3 hours ago, webfact said: As of February 16, the total passenger number posted a negative growth of between 2.5 per cent and 2.6 per cent. I doubt the lack of Chinese accounts for a 2.6% drop only - and if that figure is year on year and the 'stay away continues' that 10% contraction they are reporting will be more like 30% if dropping 2.5% a month 2 Link to comment Share on other sites More sharing options...
Isaan sailor Posted February 21, 2020 Share Posted February 21, 2020 No surprise. The wheels have come off the pro-China wagon. Link to comment Share on other sites More sharing options...
baansgr Posted February 21, 2020 Share Posted February 21, 2020 As Chinese make up 25% of tourists....surely as none are coming its 25% reduction... 1 Link to comment Share on other sites More sharing options...
newnative Posted February 22, 2020 Share Posted February 22, 2020 It's not just the Chinese who are not coming. As the virus spreads, more people around the World are electing to not get on an airplane until the virus is more under control--which is likely to take months. My partner's brother and sister were planning to visit Thailand from the US in March and they have cancelled their trip. Link to comment Share on other sites More sharing options...
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