• 
• 

Published on April 29, 2008

Watcharapong Thongrung

The Nation

AOT president Air Marshal Chana U-sathaporn said after a board meeting yesterday that the board acknowledged the recent court injunction against the eviction of duty-free operator King Power from Suvarnabhumi Airport, where King Power manages commercial retail space.

This means King Power can continue managing the retail space in the airport as usual, even though AOT terminated its contract.

Ayudhya Securities expected AOT to realise concession revenue of Bt6.4 billion from King Power from 2006 through June this year, of which Bt3 billion was already booked last month.

As such, AOT's profit was revised upwards to Bt4.77 billion this year and Bt6.13 billion next year. In the second quarter alone, its net profit should be Bt2.44 billion.

AOT's share price yesterday closed at Bt54, up by Bt1 from last Friday, while Ayudhya Securities anticipated further hikes to Bt64.

Kim Eng (Thailand) Securities also expected AOT to realise another Bt3 billion in revenue from King Power in the third quarter.

The brokerage house expects that revenue from airport fees will increase by 13.8 per cent or Bt3 billion year on year due to an increase of passengers by 11.5 per cent.