AOT’s 2020F Profit Drops 83% to ฿4.3Bn as Covid-19 Halts Flights-Passengers from Travel

Airports of Thailand Public Company Limited (AOT) has reported its 2020F consolidated financial statement through the Stock Exchange of Thailand as follows;

In 2020, AOT generated net profit of Baht 4,320.68 million. It decreased by Baht 20,705.69 million or 82.74% compared to last year. Revenues from sales or services decreased by Baht 31,604.31 million or 50.34% as a result of a decrease in aeronautical revenue of Baht 18,384.45 million or 52.51% and non-aeronautical revenue of Baht 13,219.86 million or 47.60% because of a decrease in number of flights and passengers. Other income increased by Baht 313.03 million or 17.55%. Total expenses decreased by Baht 5,143.55 million or 15.55%. Income tax expense decreased by Baht 5,350.72 million or 83.75%, which was in line with decrease in net profit.

 

The overall air traffic volume of AOT during October 2019 to September 2020 plummeted compared to the same period last year. This is due to the number of flights and passengers impacted by the Coronavirus Disease 2019 (COVID-19) that has not been resolved. There was a repeated outbreak in many countries. The declaration of national lockdowns has affected all over the world, especially air travel. It pushed the related businesses which are airlines, airports, and tourism into a severe business problem.

 

For the year ended September 30th, 2020, the air traffic volume from six airports under AOT was 515,185 flights, a 42.51% decrease compared to last year. It comprised 244,511 international flights and 270,674 domestic flights. The total number of passengers was 72.64 million, a 48.80% decrease compared to last year. It comprised 37.49 million international passengers and 35.15 million domestic passengers which mainly resulted from the decrease in international flights and passengers.