On June 16, the Board of Directors of Airports of Thailand Public Company Limited (AOT), chaired by Mr. Apirat Chaiyawangnoi, convened a meeting to expedite the appointment of a taskforce to assess and screen alternatives for resolving issues related to duty-free operations at airports under AOT’s responsibility. The board also approved hiring a consultant from a state university to study solutions for the challenges facing duty-free businesses at AOT-managed airports.
The consultant will analyze legal, economic, financial, and business management aspects to identify limitations in the current contracts and propose fair and appropriate solutions for all parties involved. A conclusion is expected within 60 days before presenting to the board for further consideration. Meanwhile, AOT will hold discussions with King Power Corporation (KPD) to reach a prompt resolution. Outstanding payments by KPD remain within the limit of the bank guarantee provided under the contract, serving as financial assurance in case of unforeseen circumstances.
AOT reaffirmed its solid financial position and plans to diversify revenue sources, such as income from the 400 Hz electrical system, PC AIR air-conditioning system, apron and ground equipment services, ground passenger services at Suvarnabhumi Airport by third-party operators, and commercial land development around all six AOT airports. These initiatives aim to boost non-aeronautical revenue. AOT assures it has sufficient liquidity to support future investments and operations without affecting the organization’s financial stability.