Phiphat Prepares for IMF-World Bank Meetings, Lays Out Plan to Clear Backlog and Sign 67-Billion-Baht AOTGA Deal

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Deputy Prime Minister and Transport Minister Phiphat Ratchakitprakarn said that Thai Airways International's inbound and outbound flights have been operating at 100% of normal capacity since Saturday, October 3, 2026, with no flight reductions. Cargo remaining at warehouses is down to just 3-4%, and roughly 400 pieces of baggage remain unclaimed, with staff contacting their owners. Airports of Thailand, or AOT, has given Thai Airways its full cooperation and assistance. For the IMF-World Bank Annual Meetings 2026, which Thailand will host from October 12-18, 2026, with more than 15,000 participants from 191 countries, the Prime Minister has instructed the Transport Ministry to prepare from the airports onward, especially to ensure baggage handling does not create another backlog. AOT and Thai Airways have already coordinated their plans, and the war room continues to work together at all times. On transport in Bangkok, the Cabinet agreed that government agencies in the Bangkok area will work off-site on October 12, 14 and 15, 2026, while Friday, October 16, 2026, has been declared a special public holiday for government agencies in Bangkok only, to ease traffic problems. Meanwhile, the Transport Ministry, the Department of Highways, the Department of Rural Roads and the Expressway Authority of Thailand will survey cars parked on roads or bridges in flooded areas to coordinate with their owners to move them, and will prepare equipment and high-clearance vehicles together with the Department of Disaster Prevention and Mitigation, the Interior Ministry, and will seek cooperation from the armed forces. Ms. Pavina Jariyathitipong, Chief Executive Officer of AOT, said that on October 8, 2026, AOT will sign a contract with Airport Ground Services Thailand, or AOTGA, as the third operator of cargo warehouses, apron and ground equipment services, ground passenger services and other related businesses at Suvarnabhumi Airport, with a total value of more than 67 billion baht. Services are expected to begin in early 2027, while the cargo warehouse will be built as quickly as possible, taking about 18 months. Having a third operator follows a Cabinet resolution requiring one once passenger numbers exceed 45 million a year, and Suvarnabhumi currently handles more than 60 million passengers a year. AOTGA's contract also sets service performance measured through key performance indicators, along with penalties if the targets are not met, up to and including termination of the contract. These penalty conditions will also be added to the new tender for the second operator. Only Thai Airways' contract remains, with KPIs but no penalties. As for the 25-year contract term, Ms. Pavina said these projects require high investment and appropriate service fee controls, so it takes time to break even, and the appropriate period was calculated at 25 years. AOT is proceeding under the Public-Private Partnership Act of 2019. Having a third operator will ease the burden and give airlines more choices, since previously there were only two, leaving Thai Airways with no alternatives and insufficient capacity, which was one cause of flight delays.

Impact on assets 2

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

AOT will sign a 67-billion-baht contract with AOTGA and is coordinating with Thai Airways to handle IMF-World Bank meeting traffic and baggage backlog.

Aerospace & Aviation▲ · 1 stocks

Off-coverage companies 1

Thai Airports Ground ServicesPrivate▲ Positive
Demandrelevance

AOTGA is set to sign a 67-billion-baht contract with AOT as the third airport ground services provider.