Global Airport News

Airports of Thailand PCL reported a 64 percent fall in third-quarter net profit on Friday, due mainly to weak air travel demand, hit by political unrest in Thailand and the impact of the flu outbreak.

Majority state-owned AOT, which runs six airports, said in a statement it made a net profit of 1.31 billion baht ($38.5 million), or 0.92 baht per share, in the April-June quarter, versus 3.63 billion baht a year earlier, when it booked a one-off gain from compensation awarded in a court case.

The profit was better than the average 931 million baht net profit forecast by six analysts surveyed by Reuters.

Falling traffic volume and the recent implementation of a number of fee reductions are likely to drag its revenue down more than 10 percent this financial year ending September, the company has said, adding there will be no improvement in the July-September quarter.