The board of Airports of Thailand Plc has awarded a 10.5-year duty-free concession at Don Mueang airport to King Power Duty Free Co, which offered a yearly 1.5-billion-baht minimum return, AoT president Nitinai Sirismatthakarn announced on Tuesday.
King Power Duty Free was the sole bidder for the contract.
It offered the 1.5-billion-baht minimum guarantee (value-added tax excluded) for the first year, which exceeded AoT's expected return in the last year of the concession, he said.
The concession would run from Oct 1, 2022 to March 31, 2033. AoT would sign the contract with King Power Duty Free Co next month, Mr Nitinai said.
King Power already has the sole duty-free concession at Thailand's other major airports.