0324 GMT - Airports of Thailand faces an earnings hit from the potential closure of King Power Duty Free's operations, Nomura analysts say in a research report. King Power has formally requested the airport operator terminate its duty-free contracts at three regional airports, citing unsustainable business conditions. AOT is establishing a committee to thoroughly evaluate the termination request, which will assess advantages and disadvantages of contract termination, negotiate potential impact terms, and verify penalties stipulated in the contract. Nomura cuts its FY 2025 and FY 2026 revenue estimates for AOT by 2.5% and 3.0%, respectively. It downgrades the stock's rating to neutral from buy and lowers its target price to THB29.40 from THB44.00. Shares are 2.75% higher at THB28.00. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
June 16, 2025 23:24 ET (03:24 GMT)
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