Airports of Thailand Public Company Limited (AOT) has seen a significant profit surge, prompting the board to approve an eight-month bonus for employees, an increase from last year. This decision comes as a result of the government’s free visa policy, which has significantly boosted tourism.
AOT, which manages six airports across the country, experienced a notable increase in air traffic in the fiscal year 2024, with passenger numbers reaching 119.29 million. This marks a 19.22% rise compared to the same period in 2023.
The results have been attributed to the government’s successful initiatives to promote tourism, including the implementation of a free visa policy for visitors.
The organisation is currently revising the Suvarnabhumi International Airport master plan to enhance its capacity in alignment with the government’s target to position Suvarnabhumi among the top 20 best airports worldwide within five years, by 2029. The plan includes expanding the airport’s capacity to accommodate 150 million passengers annually, with completion expected by April 2025.
During a recent board meeting, AOT approved a substantial increase in employee bonuses, deciding on a payout equivalent to eight months of salary. This marks an increase from the previous year’s bonus, which was seven months of salary.
The decision was influenced by the impressive financial performance in the fiscal year 2024, which nearly matched the revenue figures from 2019, before the Covid-19 pandemic.
The introduction of the free visa policy has played a pivotal role in reviving the tourism industry, which had been severely impacted by the pandemic. Additionally, the positive reception of the newly opened Satellite 1 (SAT-1) building, designed to handle increased passenger volumes, has further contributed to the organisation’s improved financial standing, reported KhaoSod.
AOT’s strategic focus on infrastructure development and service enhancement aims to position Thailand as a premier tourist destination.
The increased bonus payout reflects AOT’s appreciation of its employees’ hard work and dedication during a period of recovery and growth. The organisation’s leadership believes rewarding staff is essential for maintaining morale and encouraging continued excellence in service delivery.
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