AoT approves 5-month extension of concession charge credit payments

By Charlotte Turner |

At a Board of Directors meeting held yesterday, Airports of Thailand (AoT) approved a 5-month extension to credit term payments with its concessionaire partners on top of those it announced in January of this year.

 

For periodic payments during February – July 2020, AoT has approved an additional 5-month credit term of payment, which now totals 23 months.

 

For periodic payments during August – December 2020, an additional 5 months takes it to a total 17-month credit term.

 

AoT has also approved that payments can be made in instalments for not only concession charges, but for office and state property rents, terminal and building service charges, landing and parking charges, and aircraft service charges for the extended periodic payments, ‘which shall not be deemed as delayed’.

 

FOR THOSE SEEKING EXTENSIONS

“If any concessionaire and airline, who were once granted the right for the extension of credit term of payment for concession charges, office and state property rents, terminal and building service charges, landing and parking charges, and aircraft service charges, wish to receive the right for the extensions […], they will have to submit a new request letter to AOT,” said AOT.

 

“AOT reserves the right to make any change, correction, or cancellation of conditions of assistance measures for the concessionaires and airlines […] whenever appropriate, in accordance with the situations and impacts caused by the Covid-19 outbreak or in case of the early re-opening of skies.”

 

As reported, in January AoT lengthened payment terms for concession charges, office and state property rents and service charges for concessionaires and airlines at the six airports under its supervision.

 

Amid the ongoing Covid-19 crisis, the government has implemented strict travel restrictions to control the outbreak, causing a sharp decline in the number of flights and passengers, unusual operations of concessionaires and airlines and a lack of financial liquidity.

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