Airports of Thailand (AOT), the state-owned operator of six Thai airports, has denied rumours that it might take a stake in Thai Airways International (TG, Bangkok Suvarnabhumi) to assist the ailing flag carrier.

"AOT currently has no plan for the capital increase of Thai Airways International Public Company Limited as appeared in the news," the airport operator said in a stock market filing.

Thai Airways, which was in a dire financial condition even before the COVID-19 pandemic started and cut traffic to tourism-dependent Thailand, has recently been linked to a number of potential investors. Thai Beverage, the region's leading beverage producer, has also denied interest in a stake.

AOT underlined that it itself was in a difficult situation given the plunge in traffic at all of its gateways. Its president Nitinai Sirismatthakarn said that AOT expected revenues to drop by 30-40% during this year, as the pandemic effectively cut short the Thai peak season by a few weeks. The company operates Bangkok Suvarnabhumi, Bangkok Don Mueang, Chiang Mai, Phuket, Chiang Rai, and Hat Yai airports.

AOT is 70%-owned by the Thai government. The remaining shares are listed on the Stock Exchange of Thailand.