Bangkok – Samart Aviation Solutions PCL (SAV), a leading air navigation service provider in the region, announced its Q2 2024 financial results, reporting total revenue of 440 million baht and a net profit of 116 million baht, a robust 39% year-on-year growth. This impressive performance propelled the first-half results to 849 million baht in revenue and 210 million baht in net profit, marking a significant 84% increase from the previous year.
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Mr. Teerachai Phongpanangam, CEO of SAV, attributed this outstanding performance to the strong recovery of the tourism industry in ASEAN, particularly in Cambodia, which has been further boosted by the government’s tourism promotion policies. The increased number of flights serviced by SAV is a testament to this positive trend.
Three Core Businesses Driving Growth
- Domestic Landing & Take-off Fees: Revenue surged by an impressive 346% year-on-year, reflecting the resurgence of domestic travel within Cambodia.
- International Landing & Take-off Fees: Revenue increased by nearly 30% compared to the same period last year,driven by the return of international tourists.
- Overflight Fees: Revenue grew by 15% year-on-year, indicating the growth of air traffic in the region.
Positive Outlook for the Second Half
SAV anticipates continued revenue growth in the second half of 2024, especially in Q4, which is the peak tourism season.
Mr. Teerachai expressed confidence, stating, “We are optimistic that domestic flight revenue will grow by at least 20% in Q4 compared to the previous year, particularly with the ‘Visit Siem Reap 2024’ campaign expected to attract a large influx of tourists to Cambodia.”
SAV: Leading Air Navigation Service Provider in ASEAN
SAV, a subsidiary of Samart Corporation, invests in companies related to air traffic management. Its primary subsidiary,Cambodia Air Traffic Services (CATS), provides air navigation services in Cambodia.
With its extensive experience and expertise, SAV is well-positioned to grow alongside the aviation industry in the ASEAN region. The company remains committed to generating sustainable returns for its shareholders.
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