Thai government takeover of 2 satellites helps Thaicom net profit, but doesn’t solve company’s bigger problem

by Peter B. de Selding

PARIS — The Thai government’s demand that national satellite operator Thaicom surrender ownership of two of its satellites in September 2021 when the 30-year concession agreement expired has helped Thaicom’s finances even as it clipped the company’s wings.

Surrendering half its fleet meant losing some of its freedom of action, but it also reduced Thaicom’s depreciation costs and meant the end of concession fees paid to the government. The costs of its satellite and related services business dropped 45.9% in the three months ending March 31 . . .

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