Airports of Thailand Third-Quarter Profit Jumps

Airports of Thailand reported an eleven-fold rise in quarterly net profit on Thursday, better than expectations, due mainly to an extra compensation gain. AOT said in a statement it made a net profit of THB3.61 billion baht ($107 million), in the quarter to June 30.

The result compared with THB314 million profit in the same period a year earlier and with a THB3.16 billion in its second quarter to March 31.

The airport operator said in June it had received THB2.7 billion in compensation from duty-free firm King Power after winning a case over a contract in Bangkok’s Suvarnabhumi Airport.

However, the outlook of majority state-owned AOT is clouded by high jet fuel prices which would lower aircraft traffic, while the firm might have to cut fees requested by the International Air Transport Association to contain airline costs.