Kirati Kitmanawat, the CEO of Airports of Thailand Public Company Limited (AOT), reiterated steady numbers of passengers going through the airport in his address to the concern about Thailand’s recent deportation of 40 Uyghur individuals to China.
Despite warnings from several countries advising their citizens against traveling to Thailand, drawing parallels to the 2015 incidents, Mr. Kirati assured that passenger numbers at AOT remain steady. There has been continuous growth with no abnormal flight cancellations or travel disruptions.
During October-December 2024, AOT witnessed a 22% growth in international passenger numbers compared to the same period last year. Furthermore, in the first two months of 2025 (January-February), there was a 12% increase from the previous year. This consistent growth indicates that the incident has not significantly undermined the confidence of travelers coming to Thailand.
Regarding King Power Group’s liquidity issues leading to requests for postponement of the Minimum Guarantee payments to AOT, Mr. Kirati reassured that AOT’s financial performance remains unaffected. AOT continues to recognize revenue as scheduled from King Power, recording it under receivables without impacting the company’s cash flow, which remains robust. AOT has the right to call bank guarantees and can impose a 9% annual penalty on the Minimum Guarantee.
King Power Duty-Free Co., Ltd. (KPD) was permitted to defer payments for the Minimum Guarantee from September 2024 to April 2025 over 18-month intervals. However, starting May, KPD must pay AOT as per the contract, while accrued interest will apply to delayed payments. Similarly, King Power Suvarnabhumi Co., Ltd. (KPS) requested to defer payments from September 2024 to February 2025. From March onwards, KPS must comply with the payment schedule, including interest for deferred payments.
Mr. Kirati also highlighted that AOT will commence bidding in May for the construction of Suvarnabhumi Airport’s East Expansion project. The contract is expected to be awarded in July, with construction starting in November 2025, taking three years to complete by 2028. The extension will add 80,000 square meters to the current 400,000 square meters, increasing capacity by 20% and accommodating an additional 15 million passengers annually, making the total capacity 80 million passengers per year.
Since its official opening in September 2023, the Satellite Terminal 1 (SAT-1), with 28 gates, currently handles 150 international flights daily, accounting for 30% of Suvarnabhumi Airport’s total 600 daily international flights. AOT aims to increase this to 300-350 flights daily, with 250 flights expected for the upcoming winter schedule.
Additionally, on March 20, 2025, Their Majesties the King and Queen will preside over the official opening ceremony of the Satellite Terminal 1 and the third runway at Suvarnabhumi Airport.
