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New board of Airports of Thailand to cover up loss during military government took control

Tuesday, April 1st, 2008

The Transport Ministry from the elected government has ordered the new board of Airports of Thailand (AOT) to outperform its predecessor in terms of financial returns. The ministry also reiterated the government’s policy to cancel the use of Don Mueang as Bangkok’s second airport and promote Suvarnabhumi as the capital’s single airport. It demanded the board put this policy into practice.

New Airports of Thailand board members met Transport Minister Santi Prompat and Deputy Minister Songsak Thongsri yesterday. After the meeting, Mr Songsak said Airports of Thailand under the previous board appointed by the coup leader after the Sept 19, 2006 coup earned only two billion baht yearly, down from over 10 billion baht a year before the coup. Its dividend also plunged from over two baht per share to just 40 satang.

As a listed company, Airports of Thailand should make profits and pay dividends to shareholders at the level that it used to in order to restore investor confidence, he said.

Mr Songsak said good management should raise income and profits for Airports of Thailand and that the new board should consider transferring Airports of Thailand executives to improve management effectiveness.

He also said Suvarnabhumi should be Bangkok’s sole airport so the capital could become an air transport hub for the region. If Airports of Thailand was good at management, congestion should not be a problem and Bangkok would not need Don Mueang airport, he added.

The previous government reopened Don Mueang as Bangkok’s second airport to serve low-cost airlines and some domestic flights of Thai Airways International after it was closed in Sept 2006 following the opening of Suvarnabhumi airport.

Mr Songsak suggested Airports of Thailand reschedule incoming flights to reduce congestion.

He also ordered the new Airports of Thailand board to settle its dispute with its airport duty-free shop concessionaire King Power International Group.



JBIC interested in giving 5.6 Billion Baht loan for Suvarnabhumi Airport extension

Wednesday, March 12th, 2008

The Japan Bank for International Cooperation (JBIC) affirmed on Friday it was ready to grant a Bt700 billion loan to finance Thailand’s mega projects.

Speaking after talking to a senior JBIC official, Transport Minister Santi Prompat said the Japanese agency would grant a loan for nine electric train extention routes.

Other countries have also shown interested in extending loans for the Thai government’s mega projects, he said, adding that the Ministry of Finance would accept loans from the source giving the best offer.

JBIC is also interested in giving Bt5.6 billion in loans to the Thai government for the second-phase of construction at Suvarnabhumi international airport.

The Airports of Thailand Public Company Limited (AOT) plans an extension to beginning later this year to serve a rising number of passengers using the Suvarnabhumi terminal.

The final decision rests with the new AOT board to be announced March 14.

Mr. Santi said beside seeking loans from JBIC, AOT might issue new shares to finance the airport extension project.



Cabinet cancels Suvarnabhumi metropolis project

Sunday, April 8th, 2007

Military-installed cabinet accepted the Interior Ministry’s request to withdraw the draft bill on the proposed establishment of a special administrative zone around Suvarnabhumi airport from scrutiny by the Council of State.

The move comes because it was the Thaksin government-initiated project and was blasted in a series of recent polls conducted by the military installed’s ministry.

Deputy military’s government spokeswoman Netpreeya Chumchaiyo said the request was accepted after the ministry forwarded the findings and recommendations of a series of surveys on the draft bill.

The ministry has also suggested that the government set up an organisation in the form of a land development panel to coordinate with state-run agencies involved in the development of this specific area ( around Suvarnabhumi Airport ).

She said it was still too early to say whether the government would approve or disapprove the bill.

If the Interior Ministry continued to push for it, then it would have to be thoroughly reviewed and amended before being returned to the cabinet for reconsideration, she said.



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