Shares of Airports of Thailand, or AOT, rose for a fourth straight day to 66.50 baht, up 5.56 percent from 63.00 baht on 11 August 2026, reaching their highest level in about two years and three months since the stock last closed around 67 baht on 17 May 2024. The key driver is progress on plans to bring back duty-free shops for inbound passengers at AOT airports. If implemented, the move is expected to add about 1.5 to 1.7 billion baht a year to AOT revenue and lift profit by roughly 1.2 to 1.3 billion baht a year. AOT President Pavena Jariyathitipong said the Fiscal Policy Office under the Ministry of Finance has already approved the plan in principle and sees no need for AOT to submit the matter to the cabinet again. However, AOT wants the Ministry of Finance to present it to the cabinet so the approach is formally acknowledged. AOT sent a letter to the Fiscal Policy Office on 14 August 2026 to confirm that position. On the operating model, AOT is considering three main options: a pickup counter, combining general merchandise with duty-free goods in the same area, and selling both taxed and untaxed products. Currently, the combined purchase limit for duty-free goods is no more than 20,000 baht, while China sets its limit as high as 50,000 baht. Deputy Transport Minister Siriphong Angkasakulkiat said that if the Fiscal Policy Office concludes inbound duty-free should be reinstated, the matter must go to the cabinet to consider changing the previous resolution of 2 July 2024. As for whether AOT must hold a new auction or can negotiate with King Power Duty Free, the details still need to be examined and AOT, as the supervising agency, must be consulted.
Airports Of Thailand PCLInbound duty-free plan expected to add 1.5-1.7 billion baht annual revenue and boost profit.
King Power mentioned as potential operator, but details on auction or negotiation unclear.
