SET-listed Bangkok Aviation Fuel Services (BAFS) expects its fuel sales to increase by 8% this year to 5.4 billion litres, driven by growing tourism and better airport facilities.
The upbeat outlook should increase revenue by 8% to 3.8 billion baht, up from 3.5 billion last year, said ML Nathasit Diskul, president of BAFS.
He attributed the uptick to more international flights arriving in Thailand, with foreign tourist arrivals projected to reach 88% of the 2019 tally.
More than 35 million people visited Thailand in 2024, spending more than 1.6 trillion baht, according to the Tourism and Sports Ministry.
The Tourism Authority of Thailand set a 2025 target of 40 million foreign arrivals.
Another factor for greater consumption of jet fuel is the runway expansion at Suvarnabhumi airport.
The third runway, which opened in November last year, will serve more aircraft for a full year in 2025, driving demand for fuel, said ML Nathasit.
In addition to Suvarnabhumi airport, BAFS provides refuelling for aircraft at Don Mueang, Koh Samui, Sukhothai and Trat airports.
The company also diversified following pandemic lockdown measures to an oil pipeline transport service and sales of electric trucks used to refuel aircraft.
He said he expects the oil pipeline transport volume to grow by 5% this year to 1.3 billion litres.
The company is expanding the service under the third-phase development of the oil pipeline between Ang Thong and Saraburi. Once construction is completed, the carrying capacity of the pipeline linking the northern and eastern regions will increase by more than 700 million litres a year, said ML Nathasit.
Subsidiary BAFS Intech Co sells electric trucks to jet refuelling service providers both in Thailand and overseas.
The company delivered 22 trucks to its customers and plans to deliver 16 more worth 187 million baht under contracts.
Last year non-jet fuel businesses made up 20% of BAFS's earnings before interest, tax, depreciation and amortisation, with 80% contributed by the jet refuelling service.
