AOT eyes private investment for airport expansion as passenger numbers soar

Airport operator reports 17% year-on-year increase in net profit and 13% boost in total revenue

 

Airports of Thailand (AOT) is confident of continued revenue growth and is preparing to launch concessions for three major projects, seeking private investment to boost capacity, including at Suvarnabhumi and Don Mueang.

 

The move comes as passenger numbers are predicted to surge in the coming years.

 

AOT president Kerati Kijmanawat said the company is pushing ahead with aviation-related projects to increase revenue, improve passenger experience, and stimulate the Thai economy.

 



 

AOT’s business is currently experiencing an upward trend, driven by rising passenger numbers and the expansion of Thailand’s tourism sector.

 

AOT reported a net profit of 5.34 billion baht for fiscal year 2024 (October 2023 to September 2024), a 17.12% increase, and total revenue of 17.91 billion baht, up 13.4% compared to the same period last year.
  

Forecasts for the summer 2025 flight schedule, based on airline slot requests, predict 543,932 flights, a 29.7% rise, comprising 225,905 domestic flights (up 29.7%) and 318,027 international flights (up 29.6%).

 

Passenger numbers are also projected to climb, reaching 87.8 million (a 31.2% increase), with 32.8 million domestic passengers (up 33%) and 55 million international passengers (up 30%) by 14 February 2568.

 

Looking ahead, AOT anticipates passenger numbers to reach 170 million annually within five years and 210 million within 10 years.  This growth projection underpins the development plans for all six AOT airports.

 



 

Kerati emphasised AOT’s strong fundamentals and its potential for future growth, aligning with its strategy to become Southeast Asia's largest aviation hub.

 

AOT’s expansion plans focus on increasing revenue through passenger and commercial activities. Investment will be directed towards expanding passenger terminal space at existing airports and constructing new facilities. 

 

The Suvarnabhumi Airport Development Project aims to increase capacity from 65 million to 150 million passengers per year. Key elements include an eastern extension (adding 15 million passenger capacity), a new southern terminal (70 million capacity), and a fourth runway (allowing for 120 flights per hour).
  



 

Don Mueang Airport is also set for expansion, targeting a capacity of 40 million passengers annually. Plans include a new international terminal and upgrades to the existing one. 

 

Furthermore, AOT is planning new airports to handle an additional 60 million passengers annually: a second Phuket Airport (Andaman Airport) with a 40 million capacity increase, and a second Chiang Mai Airport (Lanna Airport), adding 20 million capacity.

 

Kerati outlined additional revenue streams, including:


Public-Private Partnership (PPP) projects at all six AOT airports, covering parking, ground handling, and warehousing at Suvarnabhumi. AOT will invite bids in March 2025. Other projects include 400Hz and PC-Air systems, an MRO centre, and line maintenance services (expected to generate revenue from 2026).


 


The Don Mueang Airport Development Project, featuring a junction building and car park with a hotel, connecting air travel with the Red Line commuter rail and other public transport.


 


Development of a 723-rai (115.6 hectares) site at Suvarnabhumi (Certify Hub and Airport Logistics Park), including an integrated agricultural product management centre and a logistics park for air cargo.




 

AOT believes its business competitiveness and government tourism policies will drive long-term growth, Kerati said.

(2025/02/19-00:00)