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The Moodie Davitt Report -The Moodie Davitt Report
Commercial partners led by King Power International Group are benefiting from the rebound in international travel that began last year; duty free income posted healthy growth in Q1, said Airports of Thailand
THAILAND. Airports of Thailand (AOT) today reported first-quarter results (to 31 December 2022), with non-aeronautical revenues reaching Bt 4,472.92 million (US$132.6 million), over +200% up year-on-year amid the recovery of the business. This remains well down on the figure of Bt7,099 million (US$227.9 million) from October to December 2019, or fiscal Q1 2020.
The recent increase was largely down to a +390% leap in concession revenues to Bt1,834.78 million (US$54.3 million), which AOT attributed to rising duty free, food & beverage and other commercial revenues.
How non-aeronautical revenues broke down in Q1; click to enlarge
The figures were buoyed by sharp growth in passenger…
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