Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Thematic (Sector/Industry)

India Automobiles and components / Thematic (Sector/Industry)

<ul><li>We maintain a Neutral rating on the tourism and airline sectors, as weekly tourist arrivals remain broadly in line with last year trend and within expectations.</li><li>We favor MINT, given its laggard share price and solid 3Q25E core earnings outlook, supported by the European tourism season and lower interest expenses.</li><li>The Civil Aviation Authority of Thailand (CAAT) is preparing to propose a PSC increase to Bt830 and Bt230 for international and domestic passengers, respectively (from Bt730 and Bt130) in October.</li></ul>

We maintain a Neutral rating on the tourism and airline sectors, as weekly tourist arrivals remain broadly in line with last year trend and within expectations.We favor MINT, given its laggard share price and solid 3Q25E core earnings outlook, supported by the European tourism season and lower interest expenses.The Civil Aviation Authority of Thailand (CAAT) is preparing to propose a PSC increase to Bt830 and Bt230 for international and domestic passengers, respectively (from Bt730 and Bt130) in October.

Travel Groups And Airlines: Weekly Tourist Arrivals In Line With Expectations...