Thailand’s Minister of Transport Saksayam Chidchob expected Thai tourism to return to pre-Covid level faster than expected as China could greenlight on border reopening, while Japan also showed demand to increase flights to Thailand.
Suvarnabhumi Airport, Thailand’s main hub, used to serve 200,000 passengers per day before the pandemic hit global tourism. Suvarnabhumi Airport now records around 120,000 passengers per day.
The minister of transport said that the figure should reach pre-Covid level by next year, seeing the possibility of Chinese and Japanese returning to the kingdom.
The forecast for recovery was by far a year faster than what the International Air Transport Association had expected.
The share price of AOT gradually recovered overtime, increasing by 58% from its pandemic low of THB47 in March 2020 and by 5.3% since Thailand started to relax Covid restrictions, including border travelling in July this year.
According to Refinitiv, AOT’s consensus target price is at THB75.81 per share with 13 buy recommendations, 5 hold and 2 sell. The share price of AOT recorded its highest level in November 2019 at THB81.00 per share.
