ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

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 2021 THBUSD
Gross Profit-15,632.38M-499.27M
Operating income-17,180.33M-548.71M
Income before tax-20,544.93M-656.17M
Net income-16,322.01M-521.29M
Diluted EPS-1.14-0.03
Dividends Per Share00
Total Assets195,085.76M5,765.79M
Total liabilities81,664.39M2,413.60M
Total equity112,343.77M3,320.34M
Operating cash flow-12,153.05M-388.14M
Currency in THBCurrency in USD

Historical Data

 Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021
Revenue 54,901.16M 60,537.40M 62,783.41M 31,179.09M 7,085.59M
Gross Profit 28,263.88M 33,305.42M 32,985.86M 7,738.64M -15,632.38M
Operating income 25,786.87M 30,710.54M 30,201.29M 5,133.07M -17,180.33M
Income before tax 26,184.97M 31,127.36M 31,484.31M 5,336.57M -20,544.93M
Net income 20,683.60M 25,170.76M 25,026.36M 4,320.67M -16,322.01M
EBITDA 31,431.39M 36,352.21M 36,052.76M 10,574.32M -8,152.95M
Diluted EPS 1.44 1.76 1.75 0.30 -1.14
Dividends Per Share 0.86 1.05 1.05 0.19 0
Total Assets 178,409.93M 187,708.55M 198,381.55M 173,558.57M 195,085.76M
Total liabilities 46,721.24M 43,439.43M 43,842.92M 30,526.90M 81,664.39M
Total equity 131,376.25M 143,902.78M 153,899.11M 142,235.57M 112,343.77M
Operating cash flow 25,930.40M 32,849.22M 32,128.85M -325.74M -12,153.05M
 Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021
Revenue 1,589.26M 1,871.05M 1,981.31M 998.90M 226.30M
Gross Profit 818.17M 1,029.38M 1,040.96M 247.92M -499.27M
Operating income 746.47M 949.18M 953.09M 164.45M -548.71M
Income before tax 757.99M 962.06M 993.58M 170.97M -656.17M
Net income 598.74M 777.96M 789.78M 138.42M -521.29M
EBITDA 909.86M 1,123.55M 1,137.75M 338.77M -260.39M
Diluted EPS 0.04 0.05 0.05 0.00 -0.03
Dividends Per Share 0.02 0.03 0.03 0.00 0
Total Assets 5,349.62M 5,804.22M 6,486.23M 5,477.19M 5,765.79M
Total liabilities 1,400.93M 1,343.21M 1,433.47M 963.37M 2,413.60M
Total equity 3,939.31M 4,449.68M 5,031.84M 4,488.69M 3,320.34M
Operating cash flow 750.62M 1,015.28M 1,013.92M -10.43M -388.14M

Valuation Measures

Sep 2021
Operating margin-242.46%
Profit margin-230.35%

Key executives

  • President & Director: Nitinai Sirismatthakarn
  • Chief Financial Officer & Senior EVP-Accounting: Somboon Noinamkham
  • EVP-Information and Communication Technology Group: Kittipoj Venunandana
  • Senior Executive VP-HR & Administration: Chadanisa Chumnanvej
  • Senior Executive Vice President-Corporate Strategy: Sasisubha Sukontasap


  • Krungsri Asset Management Co., Ltd. (0.3%)
  • Norges Bank Investment Management (0.2%)
  • TMB Asset Management Co., Ltd. (0.1%)
  • Handelsbanken Fonder AB (0.1%)
  • APG Asset Management NV (0.1%)
  • Mercer Global Investments Europe Ltd. (0.1%)
  • US Global Investors, Inc. (Asset Management) (0.0%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.0%)
  • Sjunde AP-fonden (0.0%)
  • Cohen & Steers Capital Management, Inc. (0.0%)

Contact Details

Related Companies

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


    Last Updated on 4 Oct, 2022

    Discover the all new Nikkei Asia app

    • Take your reading anywhere with offline reading functions
    • Never miss a story with breaking news alerts
    • Customize your reading experience

    Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

    Celebrate our next chapter
    Free access for everyone - Sep. 30

    Find out more