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Thursday, March 28, 2024

BAFS targets 7.5 billion baht revenue by 2026 with renewable energy focus

BAFS GROUP collaborated with PTT on Sustainable Jet Fuel (SAF) on May 24, 2023, Image via Facebook, BAFS GROUP

Bangkok Aviation Fuel Services Plc (BAFS) is predicting its revenue to hit 7.5 billion baht by 2026, with a significant boost from its diversification into renewable energy development.

Although the jet refuelling service, which has bounced back from pandemic-induced losses over the past three years, remains the company’s primary focus, its earnings proportion is expected to decrease. BAFS estimates that this business will contribute 50% of total revenue, down from 80% in 2022, while new businesses will account for 50%, up from 20% last year.

BAFS president Nathasit Diskul emphasised that new businesses would play a crucial role in the company’s revenue growth. BAFS diversified into clean power generation in 2020 through its subsidiary, BAF Clean Energy Corporation….

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