AOT Eyes Surge in Chinese Flights for Golden Week, Weighs Airport Fee Increases

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Summary · why it matters

Airports of Thailand Public Company Limited, or AOT, expects flight volumes in October 2026 to rise gradually, particularly flights from China during the Golden Week holiday from October 1 to 7, according to Ms. Paweena Jariyathitipong, Chief Executive Officer and company director, who disclosed that AOT is beginning to benefit from more efficient flight slot management after airlines booked slots in line with actual flight plans, reducing unused slot reservations, allowing slots to be reallocated and flights increased or decreased according to demand in each period and region, including Europe, Asia and the Middle East. Initially, total passenger volume across all six airports for the 2025-2026 fiscal year, from October 2025 to September 2026, is expected to be close to or grow about 1-2% year on year above the 2024-2025 fiscal year figure of roughly 125.9 million passengers, with passenger volume forecasts reviewed every three months. On the procurement of a third ground handling service provider, after the Cabinet approved in September 2026 that AOTGA operate the project, preparations are now underway and the contract is expected to be signed in early October 2026 before services begin in late 2026 or early 2027 to accommodate travel during the first-quarter 2027 tourism season. At the same time, AOT is reviewing the structure and rates of various airport service fees to align them with costs and resource usage, covering aircraft takeoff and landing fees, aircraft parking fees, facility fees and other service charges related to the use of airport space and facilities. Ms. Paweena said the review aims to make airport resource use more efficient, citing aircraft parking rates, which are currently low and may encourage aircraft to remain parked for extended periods, affecting space for new flights. She said the review will continue to take into account airline costs, competitiveness and the impact on passengers.

Impact on assets 1

Industrials▲ · 1 stocks
Airports Of Thailand PCL
AOT
▲ PositiveDemandPricingrelevance

AOT expects October 2026 flight volumes to rise, especially Chinese flights during Golden Week, and FY2025-2026 passenger volume to grow 1-2% YoY.

Off-coverage companies 1

AOT Ground Aviation Services Company Limited (AOTGA)Private▲ Positive
Regulationrelevance

After Cabinet approval, AOTGA is preparing to operate the third ground handling service project, with the contract expected in early October 2026.

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