Airports Of Thailand Posts Net Loss, Hit By Unrest

February 13, 2009

Airports of Thailand reported on Friday its first quarterly net loss since listing in 2004 due to a slump in passenger volume and the closure of Bangkok airports late last year by political protests.

Analysts do not expect an improvement this year as the global recession will reduce the volume of passengers and flights, while a recent cut in landing and parking fees to help bring back tourists could also hit income.

The airport operator posted a THB1.68 billion baht (USD$48 million) net loss in the October-December quarter, compared with a net profit of THB339 million a year earlier.

Before the results, shares in the company, valued at about USD$752 million on the Thai bourse, closed unchanged at THB18.10, while the broader index was 1.17 percent higher.