Airports of Thailand (AOT) today released updated traffic forecasts, saying it would be fiscal year 2023 before the network passed 2019 levels.
AOT said it expects to handle 144.2 million passengers by that year, which would represent growth of +1.6% compared to 2019.
n fiscal year 2020, AOT expects to serve 69.04 million passengers, a fall of -51.3% year-on-year. Domestic air traffic will begin to recover from August, the company said, returning to 2019 levels around October 2022. The overall estimate of 108.87 million passengers for 2022 will be down -23.3% compared to 2019, it noted.
AOT said that its assumptions for overall traffic are based on the likelihood of second COVID-19 waves in some countries, forcing extended quarantine measures on visitors. They also assume that a vaccine will be found by mid-2021 [by no means certain -Ed], with the economy in Thailand recovering from January 2022.
AOT also expects a -50.7% year-on-year decrease in revenue in 2020, and a -42.21% decrease in revenue in fiscal year 2021, compared to 2020.