National airports operator Airports of Thailand (AoT) has posted a 90% drop in profit for the fiscal year ending 30 September, after it was hurt by the economic downturn and political unrest.
Total revenue fell 20% to 21.5 billion baht ($647 million) from 26.7 billion baht in the corresponding period last year, says AoT.
Net profit decreased 90% to 717 million baht from 7.3 billion baht a year ago, it adds.
"The decrease on the financial performance was mainly due to the worldwide economic recession together with the 2009 flu pandemic and the domestic unrest situation which had caused an adverse impact to Thailand's tourist industry," says senior executive VP planning and finance Supaporn Burapakusolsri.
Anti-government protests late last year forced Bangkok's Don Mueang and Suvarnabhumi airports to shut down.
AoT has also given discounts on fees, rental charges and concession fees to airlines and business operators to promote tourism in the country, adds Burapakusolsri.
Source: Air Transport Intelligence news
