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King Power in airport spat
The Phuket News
|June 20, 2025
KING POWER DUTY FREE CO IS seeking the termination of a contract with Airports of Thailand Plc (AoT) for its duty-free business at five international airports in an announcement that has sent AoT shares into a dive.
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AoT shares fell 7.8% last Friday (June 13) following an announcement by Thai duty-free retailer King Power that it intends to shutter three of its airport stores, pointing to the steadily declining economy and heightened rental fees.
The announcement last Friday wiped B36 billion from AoT’s stock value by Friday afternoon. After talks on Monday (June 16), AoT said that King Power had informed it of its intention to cancel the contract to operate duty-free shops at five airports: Suvarnabhumi, Don Mueang, Chiang Mai, Phuket and Hat Yai.
This story is from the June 20, 2025 edition of The Phuket News.
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