Bangkok: "Keerati" clearly reiterates that "King Power"'s outstanding compensation payment will not affect its income. King Power's outstanding compensation payment will not affect its revenue for 2025-2026. Most recently, King Power Suvarnabhumi or KPS has paid 9% interest to AOT.
According to Thai News Agency, Mr. Keerati Kitimanawat, President of Airports of Thailand Public Company Limited (AOT), discussed the situation involving King Power Duty Free Co., Ltd. (KPD). The company, a contractor for AOT's duty-free business, has been experiencing liquidity issues and is in negotiations with AOT to delay compensation payments and amend their contract. These financial difficulties have been ongoing since the COVID-19 pandemic.
Mr. Kitimanawat assured that the outstanding compensation payments from King Power would not impact AOT's revenue for 2025-2026. The request for a payment postponement will not disrupt AOT's cash flow, as the company has secured a guarantee. King Power Suvarnabhumi Co., Ltd. (KPS) has already fulfilled the 9% interest payment in February. Meanwhile, King Power Duty Free Co., Ltd. is scheduled to pay the first installment of their interest in arrears by May.
AOT holds two main contracts with King Power: one for duty-free operations and another for commercial area development. Currently, operators owe AOT approximately 5 billion baht in compensation payments, with King Power accounting for 4 billion baht of this amount.