World’s Biggest Airport Operator Surges on Higher Fees

June 19, 2019

Airports of Thailand Pcl, the world’s biggest airport operator by market value, surged the most in six years in Bangkok trading after announcing higher-than-expected concession fees for duty free shops and commercial areas at four of the Southeast Asian nation’s international airports.

The state-controlled company will receive 20% of sales, with a minimum guarantee of 15.4 billion baht ($493 million), in the first year from a concession given to King Power Group to run duty free shops at Bangkok’s Suvarnabhumi airport, according to a stock exchange filing. King Power will also pay at least 5.8 billion baht in the first year for operating commercial areas at that airport, it said.

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