As the auction for the concession to operate the duty-free zone at Suvarnabhumi airport comes closer, the fate of an underachieving industry hangs in the balance. The state-run Airports of Thailand (AoT) has not yet revealed whether it will do away with the current monopolistic concession model that has allowed only the sole operator, King Power International, to grow richer -- at the cost of both the state and shoppers.
For more than a decade, King Power, the business empire of the late Leicester City football club owner Vichai Srivaddhanaprabha who died in a helicopter clash on Saturday, has benefited from the duty-free business monopoly at Suvarnabhumi and Don Mueang international airports.
It has been the sole duty-free operator at Suvarnabhumi since the airport's opening in 2006. But its concession will expire in September 2020. AoT said that it would hold a new auction by this year and wouldfinalise the terms of reference (ToR) for the bid last month. But as of yesterday, nothing had emerged.
