Airports of Thailand to hold duty free auctions this year
published : 28 Mar 2018 at 20:08
State-owned Airports of Thailand Plc (AoT) said on Wednesday that it plans to hold an auction for its duty-free concession this year and is considering single and multiple concessions.
"We are considering four types of concessions," AoT President Nitinai Sirismatthakarn said in a statement.
The types of concession include a master concession and multiple concessions based on product categories and locations.
The auction winner must be determined two years before the current concession expires in September 2020, Mr Nitinai said.
The expansion of Suvarnabhumi airport will increase commercial and duty free space up for auction by around 70%. The new terminal is scheduled to open for service in September 2020.
AoT, a beneficiary of the Thai tourism boom, has seen its shares surge 68% in the past year on expectations of higher revenue sharing in the new concession and expansion, analysts said.
Its concession revenue in the three-month period to Dec 31, 2017, was 3.9 billion baht, up 19% from a year ago.
The government holds a 70% stake in AoT.