Samart Aviation Solutions Public Company Limited, or SAV, reported a net profit of 122 million baht for the second quarter of 2026, with a normalised profit of 124 million baht, down 19 percent from the previous quarter and 12 percent from a year earlier, roughly in line with market expectations. Total revenue came in at 451 million baht, down 8 percent quarter-on-quarter and 5 percent year-on-year, weighed by the Middle East conflict and a 2 percent appreciation of the baht against the prior year. Total flights numbered 29,700, a decline of 12 percent from the previous quarter and 2 percent from a year ago, with domestic flights down 7 percent and international flights down 17 percent, while overflight traffic was stable. Gross margin stood at 52.9 percent, up from a year earlier, as the share of overflight traffic rose to 74.7 percent. The company declared a first-half dividend of 0.40 baht per share, representing a yield of 3.4 percent, with the XD date set for 20 August 2026. Analysts at Yuanta Securities expect profit to recover in the third quarter of 2026, helped by an easing of Middle East tensions and a 28 percent quarter-on-quarter drop in jet fuel prices. They maintain their 2026 profit forecast at 608 million baht and keep a buy rating with a target price of 16.00 baht.
Samart Aviation Solutions Public Company LimitedBroker maintains buy rating and target price, expects profit recovery in Q3 2026.
