What happened?
Tourists are returning to Thailand once again. The total amount of tourist arrivals into Thailand reached 28 million in 2023, more than doubling from the 11.5 million arrivals in 2022. However, they remain below its peak of 40 million in 2019. The government is targeting 35 million foreign arrivals this year, an increase of 25% from 2023. As the operator of six major airports in Thailand accounting for over 80% of Thailand’s air traffic, Airports of Thailand (AOT) has seen its earnings recover in fiscal year 2023 with a pickup in travel demand. Let us look at some of the factors that may impact AOT’s share price in 2024.
#1 – AOT’s earnings have recovered further in most recent quarter
AOT reported a further improvement in revenue in the first quarter of fiscal year 2024. Its revenue more than doubled to Bt 15.7 billion when compared to the…
