Airports of Thailand (AOT), the country's main airport operator, reported a worse-than-expected fourth-quarter net loss on Monday, hit by foreign exchange losses and higher operating costs.
Majority state-owned AOT said it made a net loss of 750 million baht ($22.6 million) in the July-September period, against a net profit of 191 million baht a year earlier.
The was worse than the 653 million baht loss forecast by three analysts polled by Reuters.
For its 2008/2009 financial year to Sept. 30, AOT posted a net profit of 717.26 million baht, down over 90 percent from 7.32 billion baht a year earlier.
It was lower than the average profit forecast of 1.31 billion baht by eight analysts polled by Thomson Reuters I/B/E/S.
Some analysts are optimistic about its prospects, expecting a revival in tourism to boost passengers and flights, with the bottom line also helped next quarter by the end of a campaign to support traffic by waiving landing and parking fees for airlines.
AOT operates the country's six main airports, Suvarnabhumi and Don Muang in Bangkok, Hat Yai, Chiang Mai, Chiang Rai and Phuket, which handle around 90 percent of air traffic in the country.
At the midday break, AOT shares were up 1.4 percent at 37.25 baht, while the main Thai stock index .SETI rose 1.4 percent.
(Reporting by Arada Kultawanich; Editing by Alan Raybould)