Bangkok Airways (BA) has responded positively to the recovery of tourism as the government announces the full reopening of the country to international travelers, invigorating business at Samui Airport. The airline is showcasing its potential for investment in Samui Airport and its strengths in connecting trade and tourism routes, while advancing the establishment of the BAREIT trust fund valued at no more than 14.3 billion baht.

Mr. Putthipong Prasartthong-Osoth, President of Bangkok Airways Public Company Limited (BA), stated that the overall tourism landscape in Thailand is beginning to recover and become more vibrant following the government's announcement to fully reopen the country to tourists. This has led to an increase in international visitors, particularly to Koh Samui, which is a popular destination for both Thai and foreign tourists due to its beautiful scenery, diverse attractions, and convenient travel options with direct flights connecting Koh Samui to international and domestic routes such as Singapore, Chiang Mai, Phuket, and recently, Hat Yai.

Koh Samui was ranked 7th in the world and 1st in ASEAN as an excellent tourist island in 2021 by Travel and Leisure magazine, a renowned global travel publication. Samui Airport is the first private airport in Thailand, built and operated by Bangkok Airways, playing a crucial role in connecting travelers from around the globe and serving as a gateway to Thailand.

“Samui Airport was designed and constructed with the environment of Koh Samui in mind, emphasizing a design that harmonizes with the natural surroundings. It is built with coconut wood and features an open-air resort-style terminal to create a natural atmosphere reflective of Koh Samui. Tourists will immediately feel the relaxing ambiance as soon as they step off the plane,” Mr. Putthipong said.

The President of Bangkok Airways noted that due to the relaxation of COVID-19 control measures and the reopening of the country to welcome tourists, along with the peak tourist season from July to August, Koh Samui experiences calm weather and clear waters, resulting in an increase in tourist arrivals. This has led to a higher average passenger load factor per flight, an increase in hotel room availability, restaurants, and related tourism businesses on Koh Samui.

Additionally, marketing activities promoted by the government and private sector partners, such as promotional airfare and accommodation deals, have stimulated travel. The company has increased the number of flights and opened more direct routes from Samui Airport to various provinces to prepare for the influx of tourists.

Recently, the company has moved forward with establishing a trust fund for investment in the leasehold rights of Bangkok Airways' airport properties (BA Airport Leasehold Real Estate Investment Trust: BAREIT) to invest in the real estate of the Samui Airport project. The company has submitted a filing for the trust unit offering to the Securities and Exchange Commission (SEC) for approval, with Bangkok REIT Management Co., Ltd., a subsidiary, managing the trust.

BA will lease the Samui Airport property to the BAREIT trust, which will invest in the leasehold rights of the properties used for the operation of Samui Airport, including the runway, parking areas, and some facilities used in airport operations, for a period of approximately 25 years, with a total value not exceeding 14.3 billion baht. This will be funded through the sale of trust units amounting to no more than 10.33 billion baht and long-term loans not exceeding 5.06 billion baht.