World's Most-Valuable Airport Operator Is Now in Thailand

World's Most-Valuable Airport Operator Is Now in Thailand

Anuchit Nguyen and Lee Miller

- International tourism powers growth at Bangkok, Phuket hubs

- Shanghai International Airport a distant second in Asia

After strong international tourist arrivals in 2017, Airports of Thailand Pcl surpassed Spain’s Aena SA as the world’s most-valuable airport services company.

Powered by a 75 percent gain since May 1, the operator of Thailand’s main international airports also passed the 1 trillion baht ($31 billion) market capitalization mark, joining only state-controlled energy company PTT Pcl above that milestone. Shares of Airports of Thailand jumped 9.2 percent in December -- rallying for a 10th consecutive month -- as government data showed international tourists in November jumped 23 percent.

The stock’s surge was by far the best performer in Bloomberg’s Asia-Pacific Infrastructure Top Peers gauge, with Shanghai International Airport Co. a distant second at 29 percent in the same period. Airports of Thailand gained 4.4 percent in the first two trading sessions of 2018.

Full story: https://www.bloomberg.com/news/articles/2018-01-04/world-s-most-valuable-airport-operator-is-now-in-thailand

-- Bloomberg 2018-01-05