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Transcript of For The fiscal YearFor The fiscal Year 2013 (October 2012...
Airports of Thailand Plc.Airports of Thailand Plc.For The fiscal YearFor The fiscal Year 20132013 (October(October 20122012 –– SeptemberSeptember 20132013))For The fiscal Year For The fiscal Year 2013 2013 (October (October 2012 2012 –– September September 20132013))
Investor Relations Center, E-mail: [email protected], Tel: (662) 535-5900, Fax (662) 535-5909
Disclaimer
This presentation is intended to assist investors to better understanding the company’sThis presentation is intended to assist investors to better understanding the company s business and financial status.
This presentation may contain forward looking statements relate to analysis and other information which are based on forecast of future results and estimates of amounts notinformation which are based on forecast of future results and estimates of amounts not yet determinable.
These statements reflect our current views with respect to future events which relate to our future prospects developments and business strategies and are not guarantee ofour future prospects, developments and business strategies and are not guarantee of future performance.
Such forward looking statements involve know and unknown risks and uncertainties.
The Actual result may differ materially from information contained in these statements.
2
Airports in ThailandTotal of 38 airports
Airports of Thailand Public Company Limited 1 2 in Bangkok and perimeter
MAE FAH LUANG-CHIANG RAI INTERNATIONAL AIRPORT CHIANG MAI
INTERNATIONAL AIRPORT
Pai
Sukhothai Nakhon Phanom
Udon Thani
Loei
LampangPhrae
NanMae Hong Son
Tak
2 in Bangkok and perimeter o Suvarnabhumi Airport (BKK) o Don Muang International Airport (DMK)
4 international airports at regional sites
Pai
Ubon RatchathaniBuri RamNakhon Ratchasima
Sakon Nakhorn
Roi Et
Khon KaenPhetchabun
PhitsanulokMae Soto Chiang Mai International Airport (CNX)
o Phuket International Airport (HKT) o Hat Yai International Airport (HDY)o Mae Fah Luang-Chiang Rai International Airport (CEI) 2
DON MUANG INTERNATIONALAIRPORT
SUVARNABHUMISUVARNABHUMI AIRPORTAIRPORT
Surin
Bangkok Airways Airports
DCA Airports
AOT AirportsU-Tapao
Hua Hin
Ch
Trad
Department of Civil Aviation (DCA) o 28 regional airports
R l Th i N
SUVARNABHUMISUVARNABHUMI AIRPORTAIRPORT
Royal Thai Navy Airport
Chumpon
Samui
Nakhon Si Thammarat
Ranong
Surattani
Royal Thai Navyo U-Tapao Pattaya International Airport
Bangkok Airways Companyo Sukhothai Airport
HAT YAI
INTERNATIONAL Krabi
Trang PattaniNarathiwat
o Sukhothai Airporto Samui Airporto Trad Airport
PHUKET INTERNATIONAL AIRPORT
AIRPORT
Note: 1. AOT’s traffics account for 83% of Thailand’s air traffics.2 Changing from Chiang Rai International Airport to Mae Fah2.Changing from Chiang Rai International Airport to Mae Fah
Luang–Chiang Rai International Airport since March 13, 2010.
3
Business OverviewFact Sheet Listed on 11 March 2004 Shares outstanding 1,428.57 Million Shareholders
Shareholders Information (As of December 24, 2012)
1. Ministry of Finance 70.00 %
2. Thai NVDR Company Limited 4.48 % Shareholders•Ministry Of Finance 70%•Free Float 30%
Average Daily Market Cap (Oct 12 – Sep 13)•BHT 187 433 03 Million
p y
3. HSBC (Singapore) Nominees Pte. Ltd. 2.49 %
4. Social Security Office (2 Cases) 1.30 %
5. State Street Bank Europe Limited 1.07 %BHT 187,433.03 Million 6. Mr. Pongsak Thammathataree 0.96 %
7. BNY Mellon Nominees Limited 0.82%
8. Bualuang Long-Term Equity Fund (B-LTF) 0.76 %
Fiscal Year
EPS (Baht)1
(The Company)Dividend per share
(Baht)
Dividend payout ratio
Dividend Yield
9. Bualuang Long-Term Equity Fund 75/25 (BLTF75)
0.62 %
10. Norbax Inc.,13 0.58 %
20062 7.26 2.75 37.88% 4.74%
2007 0.84 0.40 47.61% 0.64%
Dividend Policy Not less than 25% of net profit of the company for
2008 5.15 2.58 50.09% 8.32%
2009 0.60 0.42 70.00% 0.99%
each year after deduction of all specified reserves, subject to our investment plans and other considerations that our Board of Directors deems appropriate
2010 1.05 0.55 52.38% 1.33%
2011 1.82 0.80 43.96% 2.03%
2012 4 54 1 80 39 65% 2 26%
4
Note: 1. EPS using for calculating the dividend is from the company financial statements.2. In FY2006 AOT paid dividend twice : On 12 Oct 2006 (Baht 0.95 per share) and on 23 Feb 2007(Baht 1.80 per share)
2012 4.54 1.80 39.65% 2.26%
Aircraft Movement Statistics (FY2013)
184.99(Unit: Thousand)
AOT Traffics LCCs Traffics(Unit: Thousand) • Domestic (3 airlines)
Thai Air Asia
Nok Air
Major LCCs Airline
559.42
92.10102.66
118.09
170.12193.05 211.75
242.90108.12
385.77441.44 132.73
480.34 152.80One-Two-Go/Orient
Thai Airlines
• International (22 airlines)
Air Asia
Thai Air Asia
35.84 40.63 50.14 66.90
72.2892.10
215.65 248.39 268.59 316.52
FY FY
Thai Air Asia
Tiger Airways
Jetstar Asia
Jetstar Airways
CEBU Pacific Air2010 2011 2012 2013
International Domestic
2010 2011 2012 2013International Domestic
FY FYIndonesia Air Asia
Condor Flugdienst
Jeju Air
Jin AirFi fl
FY2012 FY2013 YoY%
BKK 326 970 288 004 11 92%
FY2012 FY2013 YoY%
BKK 79 405 20 135 74 64%Firefly
Tomsonfly
IndiGO Airlines
Eastar Jet
T'Way Airlines
BKK 326,970 288,004 -11.92%
DMK 37,141 135,988 266.14%
BKK+DMK 364,111 423,992 16.45%
CNX 35,571 41,295 16.09%
BKK 79,405 20,135 -74.64%
DMK 19,124 105,618 452.28%
BKK+DMK 98,529 125,753 27.63%
CNX 17,195 16,886 -1.80%T Way Airlines
Scoot
Spring Airlines
Mandala Airlines
Golden Myanmar Airlines
HDY 14,573 17,056 17.04%
HKT 59,406 70,198 18.17%
CEI 6,674 6,882 3.12%
, ,
HDY 11,501 13,674 18.89%
HKT 21,612 24,535 13.52%
CEI 3,963 4,139 4.44%
5
Note: 1. Fiscal Year starting from October to September2. The percentage growth as shown is calculated from
the full number of the air traffic statistics
Juneyao Airlines
VietJetAir Norwegian Air Shuttle
Total 480,335 559,423 16.47% Total 152,800 184,987 21.06%
Passenger Movement Statistics (FY2013)AOT Traffics LCCs Traffics
(Unit: Million)(Unit: Million)
16.9024 19 27.20
31.87
86.13
57.4213 99
71.5217.65
66.30 20.34
26.61
4 79 5.81 6.889.71
9.2011.84
13.46
35.83 42.11 44.3254.26
21.5924.19 13.99
4.79 5.81
2010 2011 2012 2013International Domestic
2010 2011 2012 2013International Domestic
FY FY
FY2012 FY2013 YoY% FY2012 FY2013 YoY%
BKK 52,368,712 50,900,697 -2.80%
DMK 2,717,413 15,562,753 472.70%
BKK+DMK 55,086,125 66,463,450 20.65%
BKK 10,600,736 3,200,926 -69.80%
DMK 2,524,833 14,769,681 484.98%
BKK+DMK 13,125,569 17,970,607 36.91%
CNX 4,334,608 5,172,742 19.34%
HDY 2,013,243 2,465,370 22.46%
HKT 9,161,005 10,979,537 19.85%
CEI 926,323 1,053,863 13.77%
CNX 2,135,444 2,430,455 13.81%
HDY 1,560,209 2,018,429 29.37%
HKT 3,006,279 3,550,932 18.12%
CEI 515,182 635,140 23.28%
6Note: 1. Fiscal Year starting from October to September
2. The percentage growth as shown is calculated from the full number of the air traffic statistics
, , ,
Total 71,521,304 86,134,962 20.43%
, ,
Total 20,342,683 26,605,563 30.79%
Monthly Air Traffic Movements: FY 2009 - 2013(Unit: Thousand)(Unit: Thousand)
45
50
55
FY 2009
Aircraft Movements35
40
45 FY 2009
FY 2010
FY 2011
25
30
ct v c n b ar pr y n ul g p
FY 2012
FY 2013
(Unit: Million)
Oct Nov Dec Jan
Feb Mar AprMay Ju
n Jul
Aug Sep
8
9
Passenger Movements6
7
8FY 2009
FY 2010
FY 2011
4
5 FY 2012
FY 2013
7
3
Oct Nov Dec Jan
Feb Mar AprMay Ju
n Jul
Aug Sep
Airport Revenues (FY 2013)
Landing & Parking Charges 20% increased on Jan 1st, 2005
15% increased on Apr 1st, 2007Aeronautical
Passenger Service Charges (PSC) Effective on Feb 1st, 2007
THB 500 to THB 700 - International PSC
THB 50 to THB 100 Domestic PSC
Aeronautical
59.71%
(For FY 2013) THB 50 to THB 100 - Domestic PSC
Aircraft Service Charges Fees paid by airlines for use of boarding bridges, varies by maximum take off weight of the aircraft and length of time at a gate
(For FY 2013)
Office & State Property Rental Rental tenants include airline, government agencies and concession tenants. Rents are determined based on the tenants’ business use at each of our airports.
Service Varies by activities such as Utilities, Check-in Counter Services, Airline Announcement Services, Hydrant
Non-Aeronautical
40 29%System Services, etc.
Concession Varies by activities such as Duty Free, Souvenirs, Food & Beverage, Airline Catering, Fueling Services, Car Parking, Advertising, Banking, etc.
40.29%
(For FY 2013)
8
Revenues Breakdown (FY 2013)
12.93%
Total Revenue By proportion(Unit: Million)
FY2012 FY201336 810 41 15.64%
25.26%
24 032 61
28,640.6930,405.28
36,810.4123.29%
45.33%
1 45%
4.77%
10.26%24,032.61
21,502.39
43.36%
1 61%
5.24%
10.86%
1.45%
By Growth(Unit: Million Baht)
1.61%
2009 2010 2011 2012 2013 FY2009 FY2010 FY2011 FY2012 FY2013 YoY
LPC 3,114.98 3,407.11 4,370.34 4,755.88 4,760.80 0.10%
PSC 8,676.54 10,180.50 12,334.06 13,183.06 16,684.47 26.56%
(Unit: Million Baht)
L di & P ki h (LPC)
FY
ASC 411.06 418.34 465.00 489.27 534.31 9.21%
OPR 1,698.23 1,615.82 1,718.26 1,593.08 1,756.52 10.26%
SVR 2,901.28 3,127.57 3,311.25 3,303.21 3,775.01 14.28%
CCR 4 700 31 5 283 27 6 441 77 7 080 78 9 299 29 31 33%
Landing & Parking charges (LPC)
Passenger service charges (PSC)
A/C Service charges (ASC)Office and state property rents (OPR)
CCR 4,700.31 5,283.27 6,441.77 7,080.78 9,299.29 31.33%
Total 21,502.39 24,032.61 28,640.69 30,405.28 36,810.41 21.07%
9Note: Fiscal Year starting from October to September
Service revenues (SVR)
Concession revenues (CCR)
Airport Operating Expenses
Employee Benefit Expenses Consisting of : - employee salaries and bonuses, employee benefits, retirement payments and contributions to employee provident fundpayments and contributions to employee provident fund - the remuneration of AOT’s board of directors and executives as stated in the notice of Capital Market Supervisory Board
Operating Expenses Consisting of electricity charges, costs related to outsourced workers, property taxes, consultant fees, telephone, advertising and public relations costs, water, insurance premium costs and etc.
Repair and Maintenance Consisting of repair and maintenance of runways and taxiways, elevators, escalators and cover walkways, air conditioning systems, conveyor belts, transportation equipment and construction and electrical appliances
State Properties Rental Consisting of rental payments made to the Ministry of Finance under the airport land leases
Depreciation and Amortization Consisting of depreciation charges in respect of the property, plant and Depreciation and Amortization Consisting of depreciation charges in respect of the property, plant and equipment as well as amortization in respect of the intangible assets. Calculating on a straight-line basis over the assets’ useful lives (between 5 and 50 years)
10
Operating Expenses Breakdown (FY 2013)
By proportion(Unit: Million)
Total Operating Expenses
FY2012 FY201323.43%
6 65%
23.71%19,629.6621,666.79
19,690.4118,543.25
21,509.9824.65%
7 39%
22.20%
34.51%11.70%
6.65%
36.27%9.49%
7.39%
By Growth2009 2010 2011 2012 2013 (Unit: Million Baht)
FY2009 FY2010 FY2011 FY2012 FY2013 YoY
Employee 3,281.45 3,881.65 4,150.22 4,612.82 5,303.16 14.97%
FY
Employee Benefit expensesOperating expensesRepairs and maintenance (R&M)State property rental (SPR)
Operating 5,201.80 5,548.85 6,098.82 6,794.73 7,801.22 14.81%
R&M 1,214.69 1,539.77 2,304.69 2,303.96 2,040.22 (11.45%)
SPR 939.51 1,034.05 1,247.40 1,310.02 1,590.15 21.38%
D&M 7 905 80 7 625 33 7 865 65 4 668 88 4 775 23 2 28%
11
Depreciation and amortization (D&M) D&M 7,905.80 7,625.33 7,865.65 4,668.88 4,775.23 2.28%
Total 18,543.25 19,629.66 21,666.79 19,690.41 21,509.98 9.24%
Statements of Income (FY 2013)
(Unit: Million Baht)
FY2009 FY2010 FY2011 FY2012 FY2013 YoY
Revenues from sales
(Unit: Million Baht)
Revenues from sales or services 21,502.39 24,032.61 28,640.69 30,405.28 36,810.41 21.07%
Operating expenses 18,543.25 19,629.66 21,666.79 19,690.41 21,509.98 9.24%
EBIT 2,959.14 4,402.96 6,973.90 10,714.87 15,300.43 42.80%
Depreciation and amortization 7,905.80 7,625.33 7,865.65 4,668.88 4,775.23 2.28%
EBITDA 10,865.94 12,028.29 14,839.55 15,383.75 20,075.66 30.50%
Net Profit (Loss) 717.26 2,039.25 2,214.82 6,499.75 16,347.35 151.51%
EPS 0.50 1.43 1.55 4.55 11.44 151.51%
12Note: As of September 30, 2013, AOT reversed an impairment loss of assets at DMK amounting to Baht 3,603.28 million.
Financial Status
30 Sep 2012 30 Sep 2013
STATEMENTS OF FINANCIAL POSITION STATEMENTS OF CASH FLOW
Beginning Cash 3,652.83(Unit: Million Baht) (Unit: Million Baht)
Cash 3,652.83 6,617.68
Other Current Asset 33,476.24 36,914.51
Cash Flow from Operation 20,583.89
Cash Used in Investment (8,791.31)
C h U d i Fi i (8 832 57)Other Current Asset 33,476.24 36,914.51
Non Current Asset 111,919.51 109,528.76
Total Assets 149 048 58 153 060 95
Cash Used in Financing (8,832.57)
Ending Cash 6,612.84
(As of Sep 30, 2013)
Total Assets 149,048.58 153,060.95
Current Liabilities 17,418.36 19,452.02
Long Term Loan 51 152 94 37 324 98 Total Loan (Million Yen) 199 243 00
LONG-TERM LOANS
Long Term Loan 51,152.94 37,324.98
Other Non Current Liabilities 2,682.46 4,544.02
Total Liabilities 71 253 76 61 321 02
Total Loan (Million Yen) 199,243.00
Disbursed Amount (Million Yen) 194,409.73
Repayment Amount (Million Yen) (69,025.89)Total Liabilities 71,253.76 61,321.02
Shareholder’s Equity 77,794.82 91,739.93
T t l Li biliti &
Outstanding Amount (Million Yen) 125,383.84
Outstanding Amount (Million Baht) 40,652.95
13
Total Liabilities & Shareholder’s Equity 149,048.58 153,060.95 Hedged % of the remaining loan 94.00%
Average Interest Rate 4.86%
Financial Ratios
30 Sep 2009
(FY2009)
30 Sep 2010
(FY2010)
30 Sep 2011
(FY2011)
30 Sep 2012
(FY2012)
30 Sep 2013
(FY2013)(FY2009) (FY2010) (FY2011) (FY2012) (FY2013)
Par Value (THB) 10.00 10.00 10.00 10.00 10.00
Market Price (THB) 42.25 41.50 39.50 79.50 188.50
BV/share 51.28 48.89 50.49 54.35 64.11
P/BV 0 82 0 85 0 78 1 46 2 94P/BV 0.82 0.85 0.78 1.46 2.94
EPS 0.50 1.43 1.55 4.55 11.44
P/E 84.50 29.02 25.48 17.47 16.48
Gearing 0.91 0.89 0.88 0.73 0.46
Net Gearing 0.87 0.84 0.81 0.68 0.38
ROA (%) 0.48 1.44 1.52 4.32 10.82
ROE (%) 0.98 2.92 3.12 8.68 19.32
14
Note: Gearing = Total Debt / Total EquityNet Gearing = Net Debt / Total EquityTotal Debt = Total Interest Baring Debt
Noise Compensation (Suvarnabhumi Airport Phase I)
NEF > 40
Proceeded(Unit: Million Baht)
(The cabinet resolution on May 29,2007)
Planned
Houses Amount
Purchased 131 672.61Summer Season (Unit: Houses)
Insulated 346 89.48
Total NEF> 40 477 762.09Total Impacted Houses10,918
Total Impacted Houses10,918
NEF 30 40
NEF > 40506
NEF > 40506
NEF 30-4010 412
NEF 30-4010 412
NEF 30 - 40Houses Amount
Insulated 9,274 1,854.98506506 10,41210,412
Total NEF30- 40 9,274 1,854.98
Sensitive Area 20 280 49Insulation358
Insulation358
Insulation10,412
Insulation10,412
Purchase148
Purchase148
Sensitive Area 20 280.49
KMITL 214.00
Grand total * 3,111.56
15
As of November 30, 2013
,
Note: - * Accumulated from the first payment until November 30, 2013- KMITL is King Mongkut’s Institute of Technology Ladkrabang- NEF : Noise Exposure Forecast
Noise Compensation (Suvarnabhumi Airport Phase I)
ProceededPlanned
(Th bi t l ti A 31 2010)(Unit: Million Baht)
Winter Season (Unit: Houses)
(The cabinet resolution on Aug 31, 2010)NEF > 40
Houses Amount
Total Impacted Houses5 397
Total Impacted Houses5 397
Purchased 49 153.77
Insulated 74 23.09
Total NEF> 40 123 176.865,3975,397
NEF > 40NEF > 40 NEF 30-40NEF 30-40
NEF 30 - 40Houses Amount
NEF > 40133
NEF > 40133
NEF 30-405,264
NEF 30-405,264 Insulated 4,404 911.05
Total NEF30- 40 4,404 911.05
Sensitive Area 1 12.05
Grand total * 1,099.96
Insulation80
Insulation80
Insulation5,264
Insulation5,264
Purchase53
Purchase53
16
As of November 30, 2013Note: - * Accumulated from the first payment until November 30, 2013
- KMITL is King Mongkut’s Institute of Technology Ladkrabang- NEF : Noise Exposure Forecast
Future Airport Developments
Suvarnabhumi 1/ Investment Cost
(billion baht)Expected
TimeframeAdditional Capacity
1. Project Management 62.50 2011 - 2017 - 15 MAPj gConsultant (PMC)
2. 1st Midfield Satellite3. Apron around 1st Midfield
Satellite
- 28 contacted gates
Satellite4. South Tunnel and
Automated People Mover5. Main Terminal Extension6. Parking Garage and Airlines
Office7. Utilities
Phuket Investment Cost
(billion baht)Expected
TimeframeAdditional Capacity
1 N I t ti l 5 79 2009 2014 6 MAP
Note : 1/ The cabinet already approved on Aug 31, 2010
1. New International Passenger Terminal
2. Renovation of the Existing Terminal
5.79 2009 - 2014 - 6 MAP
- 4 contacted gates
17
3. Apron4. Other related facilities
Commercial Projects
Don Muang International Airport
• Private Jet TerminalSuvarnabhumi Airport
• Community MallPhuket International Airport
• Private Jet Terminal
• Community Mall• Central Warehouse• Hotel• Hospital • Private Jet Terminalp• Office Building • Exhibition Center• Export Exhibition Center Chiang Mai International Airport
• Private Jet Terminal
18
Appendix A: Airport Capacity vs. Utilization
Aircraft(Flights/Hour)
Passengers(Million/Year)
Cargoes(Million Metric Tons/Year)
Airport CapacityActual Utilization
CapacityActual Utilization
CapacityActual Utilization
FY12 FY13 FY12 FY13 FY12 FY13
BKK 76 66 59 45.0 52.37 50.90 3.000 1.357 1.232
DMK 40 23 39 39 0 2 72 15 56 0 860 0 004 0 017DMK 40 23 39 39.0 2.72 15.56 0.860 0.004 0.017
HKT 20 19 22 6.5 9.16 10.98 0.036 0.032 0.034
CNX 24 14 16 8 0 4 33 5 17 0 035 0 021 0 018CNX 24 14 16 8.0 4.33 5.17 0.035 0.021 0.018
HDY 20 10 9 2.5 2.01 2.47 0.014 0.016 0.015
CEI 12 5 7 3.0 0.93 1.05 0.003 0.005 0.005
19
A C it
Appendix B: AOT vs. Regional Airports Capacity
Airports
Area Capacity
RunwaysTotal Area
Terminal Area
Aircraft PassengersCargoes
(Million (Metres)Area (Acres)
Area (Sq.m.) (Flights/
Hour) (Million/Year)(Million Metric
Tons/Year)
BKK 8 000 563 000 68 45 0 3 000 2 60 x 3,700BKK 8,000 563,000 68 45.0 3.000 2 60 x 3,70060 x 4,000
DMK 1,552 148,462 40 39.0 0.860 2 60 x 3,70045 x 3,500
HKT 578 31,500 20 6.5 0.036 1 45 x 3,000
CNX 642 35,863 24 8.0 0.035 1 45 x 3,100
HDY 1,188 14,940 20 2.5 0.014 1 45 x 3,050HDY 1,188 14,940 20 2.5 0.014 1 45 x 3,050
CEI 1,330 22,960 12 3.0 0.003 1 45 x 3,000
Chek Lap Kok 3,101 710,000 64 56.5 4 .000 2 60 x 3,800Kok
Changi 3,212 1,018,020 n/a 67.0 3.000 360 x 3,80060 x 4,00059 x 2,74860 4 000
20
Incheon 13,852 496,000 n/a 44.0 4.500 360 x 4,00060 x 3,75060 x 3,750
Appendix C: Market Share (By Aircraft) at Suvarnabhumi Airport – FY2013
Top 10 Airlines Top 10 LCCs
1. Thai Airways International 32.63%
2. Bangkok Airways 14.40%
3 Cathay Pacific Airways 2 38%
1. Tiger Airways 21.78%
2. Jetstar Asia Airways 12.25%
3 Indigo 11 54%3. Cathay Pacific Airways 2.38%
4. China Southern Airlines 1.77%
5. Emirates 1 66%
3. Indigo 11.54%
4. Jeju Air 8.22%
5 CEBU Pacific Air 7 40%5. Emirates 1.66%
6. Tiger Airways 1.52%
7. China Eastern Airlines 1.50%
5. CEBU Pacific Air 7.40%
6. Spring Airlines 6.15%
7. Mandala Airlines 6.10%
8. China Airlines 1.47%
9. Singapore Airlines 1.41%
8. Juneyao Airlines 4.49%
9. Eastar Jet 4.00%
10. Malaysia Airlines 1.31% 10. Scoot 3.59%
21
Appendix D: Market Share (By Passenger) at Suvarnabhumi Airport – FY2013
Top 10 Airlines
1 Th i Ai I t ti l 41 06%
Top 10 LCCs
1 Ti Ai 21 34%1. Thai Airways International 41.06%
2. Bangkok Airways 6.83%
3 Cathay Pacific Airways 3 41%
1. Tiger Airways 21.34%
2. Jetstar Asia Airways 11.48%
3 Indigo 11 02%3. Cathay Pacific Airways 3.41%
4. Emirates 2.94%
5. Singapore Airlines 1.76%
3. Indigo 11.02%
4. Jeju Air 8.30%
5. Scoot 7.63%5. Singapore Airlines 1.76%
6. China Airlines 1.70%
7. Qatar Airways 1.70%
5 Scoot 63%
6. Spring Airlines 6.54%
7. CEBU Pacific Air 5.88%
8. Etihad Airways 1.53%
9. Korean Air 1.52%
8. Mandala Airlines 5.42%
9. Eastar Jet 4.36%
10. SriLankan Airlines 1.41% 10. T'Way Airlines 3.65%
22
Appendix E: Market Share at Don Muang International Airport – FY2013
Top Airlines By Aircraft Top Airlines By Passenger1.Thai Air Asia 43.88%
2. Nok Air 26.17%
1. Thai Air Asia 53.69%
2. Nok Air 32.21%
3. Orient Thai Airlines 4.72%
4. Siam General Aviation 4.58%
3. Orient Thai Airlines 5.86%
4. Air Asia 3.82%
5. Air Asia 3.09% 5. Indonesia Air Asia 2.36%
23