Bangkok: BAFS announced its second-quarter operating results with a net profit of 56 million baht, admitting that jet fuel sales missed targets significantly due to a slowdown in Chinese flights, but showing hope after Indian flights recovered. M.L. Nattasit Diskul, President of Bangkok Aviation Fuel Services Public Company Limited (BAFS), revealed that the recent recovery in the tourism sector is facing challenges on all fronts, resulting in a slight slowdown in the overall tourism sector in the first half of 2025. However, it still plays a key role in driving the national economy. Demand for aviation fuel remains at levels favorable to the group's business, enabling BAFS Group's operations to continue growing and generating profits. In Q2 2025, the company reported a net profit attributable to shareholders of 56 million baht, a 29% increase, with a net profit margin of 5% compared to the same period last year. Total revenue reached 876.7 million baht, a 6% increase year-on-year, while EBITDA reached 422.5 m illion baht, a 3% increase year-on-year. According to Thai News Agency, for the first six months of 2025, BAFS Group reported a net profit attributable to shareholders of the company of 199.4 million baht, a 58% increase year-on-year, and a net profit margin of 9%, driven by the recovery of the Aviation business and the strong growth of the Utilities business. Total revenue reached 1,843.7 million baht, a 9% increase year-on-year, while EBITDA grew 9% to 944.4 million baht. Consequently, the Board of Directors approved an interim dividend payment of 0.11 baht per share for the first six months of 2025. The record date for shareholders entitled to receive the dividend is August 29, 2025, and the payment date is September 11, 2025. The aviation business segment recovered at a slightly slower pace in the first half of the year, with aviation fuel refueling volume reaching 2,679 million liters, exceeding the full-year target of 5,400 million liters. This aligns with the slowdown in the tourism industry. Overall , air travel remained stable, as airlines maintained their international flight volume at levels close to the previous year. While China's refueling volume decreased slightly, flights from India showed strong signs of recovery, with refueling volume increasing by 19% year-on-year. This was primarily driven by the expansion of direct routes between secondary cities in India and Thailand. Furthermore, other routes, including domestic routes, continue to show growth, supporting the overall aviation fuel business. The Utilities business group saw increased revenue from aggressive marketing efforts. In the first half of the year, oil transport volume reached 704 million liters, a 22% increase year-on-year and 55% of the full-year target of 1,290 million liters. In addition, the Northern Oil Pipeline Connection Project Phase 3 (Ang Thong-Saraburi) is currently approximately 32% complete, with commercial operation expected by 2026. Meanwhile, the Power Group continues to explore investment opportunities. Recently, BAFS Clean Energy Corporation Co., Ltd. completed the installation of a solar rooftop system with a total installed capacity of 0.9 megawatts. The project began commercial operation (COD) and has been gradually recognizing revenue since June.