Thailand’s aviation industry is making steady progress in recovering from the COVID-19 pandemic and the Airports of Thailand Public Co Ltd (AoT) anticipates a full recovery by the end of 2024.
 

Illustrative image (Source: fl360aero.com)

AoT President Nitinai Sirismatthakarn said on July 25 that this fiscal year (from October 2021 to September 2022) will see the return of about 45 million passengers, both international and domestic, about 33% from the pre-pandemic level.

The number of passengers will further increase in the following year with a recovery of 77% of pre-pandemic travel, equivalent to about 96 million passengers, and rise to 142 million in 2024.

The International Civil Aviation Organization and the International Air Transport Association agree with AoT’s assessment.

The AoT President said that they are ready once the travel restrictions are lifted to operate completely, but the same cannot be said of all cargo warehouses, ground services and even some airlines. 

The aviation industry was among the hardest hit by COVID-19. Many aviation businesses were forced to slash the number of flights and routes by half in cost-cutting efforts, making it difficult to bounce back immediately when there is high demand from customers. 

AoT says they expect a loss this year but a return to profitability for the airline industry and related businesses eventually in 2023, but that still depends on the performance of many sectors, and whether key demographics like Chinese tourists are in Thailand.

Source: VNA