March 28, 2018 / 12:01 PM / 10 months ago

Airports of Thailand to hold duty free auctions this year

BANGKOK, March 28 (Reuters) - State-owned Airports of Thailand Pcl (AOT) said on Wednesday that it plans to hold an auction for its duty concession this year and is considering single and multiple concessions.

“We are considering four types of concessions,” AOT President Nitinai Sirismatthakarn said in a statement.

The types of concession include a master concession and multiple concessions based on product categories and locations.

The auction winner must be determined two years before the current concession expires in September 2020, Nitinai said.

The expansion of Suvarnabhmi airport will increase commercial and duty free space up for auction by around 70 percent. The new terminal is scheduled to open for service in September 2020.

AOT, a beneficiary of the Thai tourism boom, has seen its shares surge 68 percent in the past year on expectations of higher revenue sharing in the new concession and expansion, analysts said.

Its concession revenue in the three-month period to December 31, 2017, was 3.9 billion baht ($124.80 million), up 19 percent from a year ago.

The Thai government holds a 70 percent stake in AOT.

$1 = 31.2500 baht Reporting by Chayut Setboonsarng; editing by Jason Neely

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