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Airports of Thailand Swung to 3Q Loss as Covid-19 Grounded Air Travel

   By Ben Otto 
 

Airports of Thailand PCL swung to a loss in its fiscal third quarter as air travel came to a near standstill due to the Covid-19 pandemic.

The Thai airport operator posted a loss of 2.93 billion baht ($94.1 million) in the quarter ended June, compared with a profit of THB5.88 billion in the same period a year ago, it said in a stock-exchange filing late Tuesday.

Revenue from sales and services fell 91% to THB1.32 billion, AOT said.

AOT said its move last month to extend concession payment deadlines for airlines, retailers and service providers to 12 months from six months will affect its operating results for the fiscal year.

The Covid-19 situation in Thailand has improved since the end of the quarter, with the government easing domestic travel restrictions and taking steps to promote local tourism, the company said.

 

Write to Ben Otto at ben.otto@wsj.com

 

(END) Dow Jones Newswires

August 11, 2020 20:42 ET (00:42 GMT)

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