Kerati Kijmanawat has resigned as president of Airports of Thailand Plc (AoT), with the decision to take effect on Thursday.
Transport Minister Suriya Jungrungreangkit on Tuesday confirmed reports that Mr Kerati had tendered his resignation to board chairman Apirat Chaiwongnoi, saying he wanted to take care of his parents, according to local media outlets.
Mr Suriya dismissed speculation that the AoT chief was under political pressure to quit his post as he had risen to the top job when the Bhumjaithai Party controlled the Ministry of Transport.
The ministry is now controlled by the governing Pheu Thai Party, which has been at odds with Bhumjaithai over several issues since the coalition was formed in 2023.
Bhumjaithai leader Anutin Charnvirakul recently dismissed talk of a rift, and most political analysts expect the uneasy marriage of convenience to last at least until the government’s term ends in 2027.
The AoT board will meet on Wednesday to select an acting president to replace Mr Kerati. Some media outlets have tipped Paweena Jariyathitipong, one of eight senior executive vice-presidents, as a leading candidate.
SET-listed AoT, which operates Thailand’s six main international airports including Suvarnabhumi, is one of the country’s most profitable state enterprises.
The Ministry of Finance holds a 70% stake in AoT, with the remaining shares held by institutional and retail investors.
AoT reported a net profit for its fiscal first quarter to Dec 31, 2024 of 5.34 billion baht, an increase of 17.1% from the same period a year earlier.
In its 2024 financial year to Sept 30, the company reported a net profit of 19.18 billion baht, up 118% from the previous year. Revenue rose by 19 billion baht, or 39.4%.
The total number of flights handled by its six airports increased 14.5% to 732,688 in fiscal 2024. Passenger numbers totalled 119.29 million, up 19.2% from the previous year.