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Airports of Thailand posts worst quarter

BANGKOK, Aug 11 (Reuters) - Airports of Thailand Pcl on Tuesday booked its worst quarter ever after volumes plummeted due to coronavirus-related restrictions.

State-owned AOT reported a loss of 2.96 billion baht ($95 million) for the three months to June 30 versus a profit of 5.89 billion a year earlier.

The shortfall was larger than the 2.1 billion baht loss expected, according to four analysts polled by Refinitiv.

Foreign tourist arrivals in Thailand fell 66% in the first half of 2020 reflecting global travel restrictions, including some from Thailand’s aviation regulator.

The country has put discussions of a ‘travel bubble’ on hold.

AOT’s revenue, including landing charges and concessions, fell 88% to 1.7 billion baht, it said.

Flight and passenger numbers fell by 88% and 95%, respectively, said AOT, which manages the country’s main Suvarnabhumi Airport and five others.

For the nine months to June 30, it recorded 438,000 flights and 65.15 million passengers, down 35% and 39%, respectively.

It will proceed with the construction of a satellite terminal in Bangkok, it said, but delay its opening until 2022.

$1 = 31.0600 baht Reporting by Chayut Setboonsarng; editing by Jason Neely

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