Travel Demand Fuels Growth for BAFS
Thailand's aviation industry is growing, leading to higher jet fuel demand. Bangkok Aviation Fuel Services (BAFS) expects 18% revenue growth this year due to increased air travel, boosting jet fuel sales by 16% to five billion litres. Airports of Thailand is upgrading Suvarnabhumi airport to accommodate 80 million passengers per year by 2031.
Thailand's aviation industry is experiencing significant growth, with increasing travel demand leading to a rise in jet fuel consumption, according to Bangkok Aviation Fuel Services Plc (BAFS).
This trend is expected to benefit aviation-related services, particularly refueling operations at Suvarnabhumi and Don Mueang airports.
BAFS forecasts an 18% revenue growth, reaching 3.6 billion baht this year, driven by expanded air travel and higher fuel consumption.
The Department of Energy Business reported a 17% increase in jet fuel usage for the first half of the year, averaging 15.7 million litres per day.
BAFS anticipates a 16% boost in jet fuel sales, projecting 5 billion litres in 2024.
The Bank of Thailand noted a rise in foreign tourist arrivals in July, reaching 3.1 million, up from 2.7 million the previous month.
In light of growing passenger numbers, Airports of Thailand (AoT) is planning facility upgrades at Suvarnabhumi airport to accommodate 80 million passengers annually by 2031, including a newly opened satellite terminal that increased capacity to 60 million passengers per year.
This trend is expected to benefit aviation-related services, particularly refueling operations at Suvarnabhumi and Don Mueang airports.
BAFS forecasts an 18% revenue growth, reaching 3.6 billion baht this year, driven by expanded air travel and higher fuel consumption.
The Department of Energy Business reported a 17% increase in jet fuel usage for the first half of the year, averaging 15.7 million litres per day.
BAFS anticipates a 16% boost in jet fuel sales, projecting 5 billion litres in 2024.
The Bank of Thailand noted a rise in foreign tourist arrivals in July, reaching 3.1 million, up from 2.7 million the previous month.
In light of growing passenger numbers, Airports of Thailand (AoT) is planning facility upgrades at Suvarnabhumi airport to accommodate 80 million passengers annually by 2031, including a newly opened satellite terminal that increased capacity to 60 million passengers per year.
