Latest news with #VichaiSrivaddhanaprabha
New Straits Times
6 days ago
- Business
- New Straits Times
Thai duty-free giant King Power gets airport payment relief
BANGKOK: Thailand's airport authority said Friday it had approved extended payment terms for duty-free giant King Power, after the company sought to quit its concessions citing a drop in tourist numbers. Airports of Thailand said King Power, which operates at five airports in the country, applied for a relief scheme for firms "facing liquidity problems" on 23 June. AOT told the Stock Exchange of Thailand (SET) its board had granted permission for the firm to split the minimum payments required for its contracts into installments, with the payment window extended by eight months. King Power must provide collateral of 1.45 billion baht (US$44.5 million) "to ensure its financial obligations in case of unexpected events", said a public statement to the SET. AOT shares fell 2.4 percent in Bangkok following the announcement. King Power, shirt sponsors for English football club Leicester City, has a monopoly on duty-free outlets at Bangkok's Suvarnabhumi and Don Mueang airports, as well as those in Phuket, Chiang Mai and Hat Yai. The King Power Group also operates retail outlets and hospitality services around Thailand. Founder Vichai Srivaddhanaprabha led a consortium that bought Leicester City in 2010, and it was under his ownership that the Foxes secured their Premier League title in 2016.
CNA
6 days ago
- Business
- CNA
Thai duty-free giant King Power gets airport payment relief
BANGKOK: Thailand's airport authority said on Friday (Jun 27) it had approved extended payment terms for duty-free giant King Power, after the company sought to quit its concessions citing a drop in tourist numbers. Airports of Thailand said King Power, which operates at five airports in the country, applied for a relief scheme for firms "facing liquidity problems" on 23 Jun. AOT told the Stock Exchange of Thailand (SET) its board had granted permission for the firm to split the minimum payments required for its contracts into installments, with the payment window extended by eight months. King Power must provide collateral of 1.45 billion baht (US$44.5 million) "to ensure its financial obligations in case of unexpected events", said a public statement to the SET. AOT shares fell 2.4 per cent in Bangkok following the announcement. King Power, shirt sponsors for English football club Leicester City, has a monopoly on duty-free outlets at Bangkok's Suvarnabhumi and Don Mueang airports, as well as those in Phuket, Chiang Mai and Hat Yai. The King Power Group also operates retail outlets and hospitality services around Thailand. Founder Vichai Srivaddhanaprabha led a consortium that bought Leicester City in 2010, and it was under his ownership that the Foxes secured their Premier League title in 2016.
Free Malaysia Today
17-06-2025
- Business
- Free Malaysia Today
Thailand's King Power seeks to quit country's airports
King Power is the shirt sponsor for English football club Leicester City. (AFP pic) BANGKOK : Thai duty-free giant King Power is seeking to terminate its concessions at the kingdom's major international airports, citing falling numbers of Chinese tourists, the terminals' operator has said. Airports of Thailand (AOT) told the Stock Exchange of Thailand (SET) yesterday that King Power had requested a discussion of the possible termination of its duty-free concession contracts. King Power, shirt sponsor for English football club Leicester City, has a monopoly on duty-free outlets at Bangkok's Suvarnabhumi and Don Mueang airports, as well as those in Phuket, Chiang Mai and Hat Yai. Aside from airport stores, the King Power Group also operates retail outlets around Thailand, as well as hospitality services. King Power founder Vichai Srivaddhanaprabha led a consortium that bought Leicester City in 2010, and it was under his ownership that the Foxes secured their Premier League title in 2016. AOT, which runs Thailand's biggest international airports, said it would consider its options within 60 days, and will discuss with King Power for fastest possible conclusion. King Power could not be reached for comment.
New Straits Times
17-06-2025
- Business
- New Straits Times
Thai duty-free giant King Power seeks to quit kingdom's airports
BANGKOK: Thai duty-free giant King Power is seeking to terminate its concessions at the kingdom's major international airports, citing falling numbers of Chinese tourists, the terminals' operator has said. Airports of Thailand (AOT) told the Stock Exchange of Thailand (SET) on Monday that King Power had requested a discussion of the possible termination of its duty-free concession contracts. King Power, shirt sponsors for English football club Leicester City, has a monopoly on duty-free outlets at Bangkok's Suvarnabhumi and Don Mueang airports, as well as those in Phuket, Chiang Mai and Hat Yai. Aside from airport stores, the King Power Group also operates retail outlets around Thailand, as well as hospitality services. King Power founder Vichai Srivaddhanaprabha led a consortium that bought Leicester City in 2010, and it was under his ownership that the Foxes secured their Premier League title in 2016. AOT, which runs Thailand's biggest international airports, said it would consider its options within 60 days, and will discuss with King Power for fastest possible conclusion.
CNA
17-06-2025
- Business
- CNA
Thai duty-free giant King Power seeks to quit kingdom's airports
BANGKOK: Thai duty-free giant King Power is seeking to terminate its concessions at the kingdom's major international airports, citing falling numbers of Chinese tourists, the terminals' operator has said. Airports of Thailand (AOT) told the Stock Exchange of Thailand (SET) on Monday (Jun 15) that King Power had requested a discussion of the possible termination of its duty-free concession contracts. King Power, shirt sponsors for English football club Leicester City, has a monopoly on duty-free outlets at Bangkok's Suvarnabhumi and Don Mueang airports, as well as those in Phuket, Chiang Mai and Hat Yai. Aside from airport stores, the King Power Group also operates retail outlets around Thailand, as well as hospitality services. King Power founder Vichai Srivaddhanaprabha led a consortium that bought Leicester City in 2010, and it was under his ownership that the Foxes secured their Premier League title in 2016. AOT, which runs Thailand's biggest international airports, said it would consider its options within 60 days, and will discuss with King Power for fastest possible conclusion.
