AOT bracing for financial turbulence next year

[webfact]

AOT bracing for financial turbulence next year

By The Nation

 

 

Airports of Thailand (AOT) could face financial difficulties in the next fiscal year (beginning October) amid an expected lower number of international flight arrivals, said AOT president Nitinai Sirismatthakarn.

 

In contrast, AOT witnessed high passenger traffic and high revenue in the first four months of fiscal year 2020 from October to January.

 

AOT will have to cut costs as much as possible in the coming fiscal year but will maintain its 2021 investment plan, Nitinai added.

 

Average daily passenger numbers at the six AOT-run airports have dropped to 60,000 on normal days and about 90,000 over long holidays, as the Covid-19 outbreak takes a toll on the travel industry.

 

Passenger numbers from January to June this year plunged 60.65 per cent to 28 million. The number of local passengers dropped 54.49 per cent to 13 million, while foreign passengers plummeted 64.85 per cent to 15 million.

 

Suvarnabhumi Airport passenger numbers in the period fell 62.54 per cent to 12 million, while Don Meung Airport’s declined 59.86 per cent to 8 million, and Phuket’s fell 58.72 per cent to 3 million.

 

At Chiang Mai airport passenger volume plunged 59.37 per cent to 2 million, at Hat Yai airport it fell 55.32 per cent to 900,000 and at Chiang Rai airport it dropped 54.49 per cent to 600,000.

 

AOT expects 38.81 million total passengers in fiscal year 2020, rising to over 55 million in 2021 when a Covid-19 vaccine is expected to become available.

 

The situation is expected to improve further in fiscal year 2022 and return to normal by October 2022.

 

AOT currently has liquidity of Bt50 billion, down Bt7 billion since the Covid-19 outbreak emerged.

 

Source: https://www.nationthailand.com/business/30392183

 

-- © Copyright The Nation Thailand 2020-07-31

 

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[RichardColeman]

11 minutes ago, webfact said:

Passenger numbers from January to June this year plunged 60.65 per cent to 28 million.

while foreign passengers plummeted 64.85 per cent to 15 million.

Love the way they split that, I suppose it sounds better than it was ok for 3 months and then plummeted 100% for the last 3 months and has stayed there. 

[Laughing Gravy]

The words 'polish and curd' come to mind but they are certainly one hell of great spin masters of making the end of the world sound attractive.

[Grumpy John]

Could make a song out of it. Something like

"It's to good to be true

the way we count the numbers for you.

You have to realise,

it's all Bu11shiet and lies.

There's nothing to compare

when we are all in the air.

The airports will open

and you would love what we smoken.

 

 

 

 

[mr mr]

cause i'm leaving on a jet plane....don't know when i'll be back again.

[yellowboat]

Nobody is coming back anytime soon.  Your foreign tourist that you over regulate need to either find jobs or save money for a year or two.  Who wants to get quarantined anyway?   If you want to make more money, build something now, so when there is a recovery, you are ready.   Otherwise, stop moaning. 

[pixelaoffy]

The word 'bubble' has been used a lot recently referencing travel during covid ! We could equally use it when it comes to TAT AOT or any other Thai gov dept! None of them in the real world 

Edited July 31, 2020 by pixelaoffy

[hotchilli]

6 hours ago, RichardColeman said:

Love the way they split that, I suppose it sounds better than it was ok for 3 months and then plummeted 100% for the last 3 months and has stayed there. 

Yeah I spotted that too... 

[Isaan sailor]

In your dreams, AOT, in your dreams...

[Venom]

7 hours ago, webfact said:

Airports of Thailand (AOT) could face financial difficulties in the next fiscal year (beginning October) amid an expected lower number of international flight arrivals, said AOT president Nitinai Sirismatthakarn.

Lower expected number of international flight arrivals? Ya don't say....

[JusticeGB]

With all the paperwork required and 2 covid19 tests before even leaving your home country, a fit to fly letter signed by the Embassy, a $100,000 Health Insurance and 2 weeks quarantine on arrival none of which existed when 40m passengers arrived in 2019 TAT are completely crazy thinking that tourist numbers will go back to 40m a year. 

[RotBenz8888]

9 minutes ago, JusticeGB said:

With all the paperwork required and 2 covid19 tests before even leaving your home country, a fit to fly letter signed by the Embassy, a $100,000 Health Insurance and 2 weeks quarantine on arrival none of which existed when 40m passengers arrived in 2019 TAT are completely crazy thinking that tourist numbers will go back to 40m a year. 

 And even if they did opened up completely without those draconian rules, the tourist numbers would still be very low. What's gonna happen to all ghost hotels...