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Airports of Thailand Public Co. Ltd.

Company Background

Airports of Thailand, a state-owned airport operator, is 70% controlled by the finance ministry. The company was established in 2002 when the Airports Authority of Thailand was privatized.


It operates six major airports in Thailand. Suvarnabhumi Airport, the new international airport that opened in Bangkok in 2006, just after a coup that toppled the Thaksin Shinawatra government, is run by the company. The airport was seized by anti-government protestors in 2008 and forced to shut down for a week.


Don Mueang International Airport, which opened in 1914, was replaced by Suvarnabhumi, but is now a budget airline hub. Other airports include those at popular tourist destinations such as Phuket and Chiang Mai.


The chairman post at Airports of Thailand is filled by air force officials. Current Chairman Araya Ngampramuan is an Air Chief Marshal. He was named to replace Sita Divari, a squadron leader who was picked by ousted Prime Minister Yingluck Shinawatra, and resigned after the military coup in May 2014. The president's post is currently vacant. Former President Makin Petplai stepped down from his post in September without citing reasons. The company has invited members of the public to apply for the role.


Business Summary

Airports of Thailand Public Co. Ltd. engages in the operation of airport and hotel. It operates through the Airport Business and Hotel Business segments. It also manages Suvarnabhumi Airport (BKK), Don Mueang Airport (DMK), Chiang Mai (CNX), Hat Yai (HDY), Phuket (HKT), and Mae Fah Luang - Chiang Rai. The company was founded on December 17, 1903 and is headquartered in Bangkok, Thailand.

Financial Highlights

Sep 2022 THBUSD
Gross Profit-8,247.56M-240.30M
Operating income-10,407.66M-303.24M
Income before tax-13,863.47M-403.93M
Net income-11,087.86M-323.06M
Diluted EPS-0.77-0.02
Dividends Per Share00
Total Assets183,812.91M4,873.08M
Total liabilities81,294.31M2,155.20M
Total equity101,323.97M2,686.21M
Operating cash flow-1,322.56M-38.53M
Currency in THBCurrency in USD

Historical Data

 Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022
Revenue 60,537.40M 62,783.41M 31,179.09M 7,085.59M 16,560.02M
Gross Profit 33,305.42M 32,985.86M 7,738.64M -15,632.38M -8,247.56M
Operating income 30,710.54M 30,201.29M 5,133.07M -17,180.33M -10,407.66M
Income before tax 31,127.36M 31,484.31M 5,336.57M -20,544.93M -13,863.47M
Net income 25,170.76M 25,026.36M 4,320.67M -16,322.01M -11,087.86M
EBITDA 36,352.21M 36,052.76M 10,574.32M -8,152.95M -1,475.90M
Diluted EPS 1.76 1.75 0.30 -1.14 -0.77
Dividends Per Share 1.05 1.05 0.19 0 0
Total Assets 187,708.55M 198,381.55M 173,558.57M 195,085.76M 183,812.91M
Total liabilities 43,439.43M 43,842.92M 30,526.90M 81,664.39M 81,294.31M
Total equity 143,902.78M 153,899.11M 142,235.57M 112,343.77M 101,323.97M
Operating cash flow 32,849.22M 32,128.85M -325.74M -12,153.05M -1,322.56M
 Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022
Revenue 1,871.05M 1,981.31M 998.90M 226.30M 482.50M
Gross Profit 1,029.38M 1,040.96M 247.92M -499.27M -240.30M
Operating income 949.18M 953.09M 164.45M -548.71M -303.24M
Income before tax 962.06M 993.58M 170.97M -656.17M -403.93M
Net income 777.96M 789.78M 138.42M -521.29M -323.06M
EBITDA 1,123.55M 1,137.75M 338.77M -260.39M -43.00M
Diluted EPS 0.05 0.05 0.00 -0.03 -0.02
Dividends Per Share 0.03 0.03 0.00 0 0
Total Assets 5,804.22M 6,486.23M 5,477.19M 5,765.79M 4,873.08M
Total liabilities 1,343.21M 1,433.47M 963.37M 2,413.60M 2,155.20M
Total equity 4,449.68M 5,031.84M 4,488.69M 3,320.34M 2,686.21M
Operating cash flow 1,015.28M 1,013.92M -10.43M -388.14M -38.53M

Valuation Measures

Sep 2022
Operating margin-62.84%
Profit margin-66.95%


  • President: Kerati Kijmanawat
  • Senior Executive VP-Finance & Accounting: Chenwit Musikarat
  • Senior EVP-Digital & Communication Technology: Kittipoj Venunandana
  • Senior Executive VP-HR & Administration: Chadanisa Chumnanvej
  • Senior Executive Vice President-Regional Airports: Montri Mongkoldaow


  • Government of Thailand (70.0%)
  • Social Security Office of Thailand (1.1%)
  • BBL Asset Management Co., Ltd. (0.7%)
  • Kasikorn Asset Management Co., Ltd. (0.7%)
  • SCB Asset Management Co., Ltd. (0.5%)
  • Krungsri Asset Management Co., Ltd. (0.3%)
  • Krung Thai Asset Management Public Co., Ltd. (0.3%)
  • MFC Asset Management Public Co., Ltd. (Investment Management) (0.3%)
  • UOB Asset Management (Thailand) Co., Ltd. (0.1%)
  • Norges Bank Investment Management (0.1%)

Contact Details

Related Companies

  • Don Mueang International Airport Hotel Co. Ltd.
  • Suvarnabhumi Airport Hotel Co., Ltd.


    Last Updated on 25 Sep, 2023

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