SET-listed Bangkok Aviation Fuel Services Plc (BAFS) forecasts 3% sales volume growth next year from about 5.7 billion litres this year, according to managing director Prakobkiat Ninnad.
The estimate is somewhat conservative, particularly after the International Civil Aviation Organisation lifted its red flag on Thailand.
Mr Prakobkiat said that while the red flag is gone, it will take a long time for officials to gradually approve all airlines to resume flying after the suspension.
He said eight airlines are still awaiting approval to fly.
Mr Prakobkiat said BAFS is budgeting 500 million baht for next year to expand fuel refilling services at Suvarnabhumi and Don Mueang airports.
BAFS expects total revenue next year to grow by 1-2%, he said.
BAFS has also allocated a 9.69-billion-baht budget for the development of an oil pipeline from the central region to the northern city of Lampang.
Mr Prakobkiat said the oil pipeline project is 29% complete, which is slightly faster than expected, and the pipeline is scheduled to start commercial operations by early 2019.
BAFS reported that sales volume in the first nine months rose by 1.4% to 4.26 billion litres, but net sales value remained flat at 2.67 billion baht. Net profit fell by 1.5% to 809 million baht.
BAFS expects total revenue in 2021-22 to exceed 5 billion baht because of the operation of two projects: the second phase of jet fuel facility services at Suvarnabhumi airport and a 570-kilometre oil pipeline development in the North.
BAFS shares closed yesterday on the Stock Exchange of Thailand at 46.75 baht, up 50 satang, in trade worth 6.8 million baht.