Private jet traffic through Bangkok saw a steeper contraction than expected in the first half of the year, throwing doubt on the outlook for the second half.
Private jet movements through Bangkok's Don Mueang airport, which handles the bulk of Thailand's business aviation activity, fell by 11.7% from the same period last year.
The drop was attributed largely to reduced business travel to Thailand as a result of the sluggish global economy and the country's own economic woes.
MJets Ltd, the largest private jet handler in Thailand, yesterday described the traffic situation as worse than anticipated.
"We projected, at best, flat growth for the whole of 2016, but what we've already seen is a double-digit drop," said executive chairman Jaiyavat Navaraj.
The drop in January-June traffic shows that many top corporate leaders and senior business people are not flying to Thailand because of diminishing business activity here.
Though the country has been at peace and relatively stable politically, military rule from a global perspective does not spur much foreign investment and other business-related activity requiring corporate jet travel to and from Thailand, Mr Jaiyavat said.
And while he declined to provide the numbers of private jet flights handled by MJets in the first half of the year, Mr Jaiyavat noted a significant drop in traffic from Europe, where the economy has generally been in the doldrums.
The slowdown of the Chinese economy has also put a damper on corporate traffic through Thailand.
Despite the slump in corporate jet traffic in the first half, MJets' private jet activity was sustained by regional traffic, particularly casino-going flyers.
But there are negative signs to be seen, and the effect of Brexit -- Britain's departure from the EU -- may further dampen the outlook.
"There is no light at the end of the tunnel," Mr Jaiyavat said, describing the prospects for Thailand's business aviation traffic in the second half.
All in all, a deficit in business aviation traffic for the whole of 2016 is on the cards, he said.