Mr. Kerati Kijmanawat, President of Airports of Thailand Public Company Limited (SET: AOT), revealed to “Kaohoon” that the company has hired a consulting firm to evaluate on the potential adjustments to Passenger Service Charges (PSC) or airport fees for transit and transfer passengers across all six airports under its management. The study is expected to be finalized in the first quarter of 2025.
Moreover, AOT plans to hold an auction for a third ground service provider and a cargo service provider at Suvarnabhumi Airport in January. A stakeholder consultation is also scheduled for December.
As for its current state, AOT’s stock has been on the rise, driven by the growth in 2024 tourist arrivals. On December 11, 2024, the stock increased by 1.65%, closing at 61.50 baht with a trading value of 771.08 million baht.
Mr. Sorawong Thienthong, Minister of Tourism and Sports, revealed that Thailand recently welcomed approximately 32,719,298 tourists between January 1 and December 8, 2024, generating substantial revenue of 1,535,154 million baht from foreign visitors. The top five sources of tourists were China, followed by Malaysia, India, South Korea, and Russia.
In addition, Mr. Kerati expressed confidence that passenger numbers in 2025 (October 2024 – September 2025) will reach approximately 130 million.
Meanwhile, Mr. Koraphat Vorachet, Head of Research at Krungsri Securities Public Company Limited, also made a similar statement, predicting that 2025 will be a great year for AOT. He expects the company’s net profit to grow by 22%, driven by the potential for 40 million tourist visits, the upside from the third ground service provider at Suvarnabhumi Airport, and the increase in PSC.
The analyst added that for every 50 baht increase in PSC for transit/transfer passengers, there would be a 10% upside to both profit and target price. Krungsri Securities chose AOT as its top-pick among stocks in the sector and set a target price at 64.50 baht per share.
