‘Triple i’ Reports Q1/2026 Revenue Growth of 13.8% YoY Confident in Aviation Ecosystem Strategy to Drive Growth as Planned
Triple i Logistics Public Company Limited (III), Thailand’s leading regional international logistics provider, announced its Q1/2026 operating results, reporting strong growth in its core air freight and chemical logistics businesses. Total revenue reached THB 604.9 million, representing a 13.8% year-on-year (YoY) increase, while net profit stood at THB 95.1 million.
The decline in net profit was mainly attributable to lower profit contributions from associated companies. This was due to investments in personnel and equipment by AOTGA in preparation for the launch of its third ground handling operation at Suvarnabhumi Airport, as well as a one-time special item recorded by ANI.
The company remains confident in continued growth during Q2/2026, supported by stable high air freight rates, AOTGA’s planned ground handling service launch at Suvarnabhumi Airport in the second half of the year, and ANI’s continued airline network expansion. III continues to move forward with its Aviation Ecosystem strategy and maintains its full-year growth target of 10–15%.
Mr. Tipp Dalal, Chief Executive Officer of Triple i Logistics Public Company Limited (III), stated that the company generated total revenue of THB 604.9 million in Q1/2026, increasing 13.8% YoY. The growth was mainly driven by the air freight business, which expanded in both cargo transportation and warehouse services. In addition, the chemical logistics business benefited from a new partner specializing in ISO Tank Container services, attracting customers in the liquid product segment.
Net profit totaled THB 95.1 million, decreasing 12.5% YoY and 13.8% quarter-on-quarter, mainly due to a temporary decline in profit sharing from associated companies. AOTGA incurred significant expenses related to personnel and equipment investments in preparation for becoming the third ground handling service provider at Suvarnabhumi Airport. However, compared to the previous quarter, AOTGA continued to deliver solid growth, supported by the ongoing recovery of Thailand’s tourism industry.
Meanwhile, Asia Network International Public Company Limited (ANI) recorded a one-time tax-related special item. Excluding this item, ANI’s operating performance showed strong recovery, driven by higher air freight rates and increasing cargo volumes.
For Q2/2026, the company expects continued strong growth from the integrated Aviation Ecosystem among Triple i Group and its strategic partners, enabling efficient business connectivity and creating new opportunities across the logistics value chain. Persistently high air freight rates are also expected to remain a positive supporting factor.
The company is currently in discussions regarding a potential merger and acquisition (M&A) deal, which is expected to conclude by mid-year and help strengthen long-term revenue growth.
Although ongoing geopolitical conflicts in the Middle East have tightened sea freight capacity and significantly increased shipping costs, resulting in cargo congestion and a shift from sea freight to air freight among exporters, the company has successfully capitalized on opportunities through its strategic airline partnerships. These partnerships allow the company to secure priority cargo space allocations, enabling effective demand management, cost control, and profitability preservation.
Mr. Tipp added that the overall air freight business is expected to recover more clearly in the second half of the year. In particular, if tensions in the Middle East ease, delayed cargo shipments are expected to resume significantly, directly benefiting the company’s Aviation Ecosystem strategy.
The company continues to expand its Airport Truck Link service connecting Thailand’s three major airports — Suvarnabhumi, Don Mueang, and Phuket — with China and ASEAN countries. The Airport Truck Link also serves as a transportation solution connecting cargo from Suvarnabhumi and Don Mueang to Phuket Airport, where available cargo capacity presents strong business opportunities.
In addition, the company is preparing to launch its cargo airline business, which is expected to commence operations in Q4/2026. Since February, the pilot charter flight service between Bangkok and Yangon has received positive feedback and has operated as planned at an average of one flight per week. The company plans to increase flight frequency and expand additional ASEAN routes throughout the remainder of the year.
AOTGA, in which Triple i invested through SAL Group (Thailand) Co., Ltd. (SAL), the winning bidder for Suvarnabhumi Airport’s third ground handling and cargo warehouse concession, is expected to begin ground handling operations in the second half of 2026. Meanwhile, ANI continues to expand its airline partnerships and service routes.
“Despite geopolitical uncertainties, the company believes there will be no significant impact on overall business performance due to the strength of our Aviation Ecosystem and strategic partnerships. These strengths enable us to create new opportunities and diversify business potential without relying on any single business segment. We remain confident and reaffirm our 2026 growth target of 10–15% as planned,” Mr. Tipp concluded.
Triple i Donates Sports Equipment to Four Primary Schools under “Move More = Get More” Project (Year 2)
Continuing to Support Quality Growth for Children and Youth
Triple i continues its commitment to supporting the development of children and youth through ongoing social initiatives. Most recently, the Company donated sports equipment to four public primary schools located near its headquarters and warehouse facilities to encourage physical activity and promote both physical and mental well-being among children in surrounding communities.
The four recipient schools are:
1.Nonsi Primary School (Yan Nawa, Bangkok)
2.Wat Don Mueang School (Don Mueang, Bangkok)
3. Wat Bang Samak School (Chachoengsao)
4. Surao Bang Kasi School (Samut Prakan)
Now in its second consecutive year, the “Move More = Get More” project is filled with smiles and positive energy, made possible through the collective efforts of Triple i’s executives and employees, who share the goal of helping children grow with quality, happiness, and a brighter future.
Although floodwaters in Hat Yai and other southern provinces have begun to recede, information from relief teams on the ground indicates that many people are still facing hardship and remain in urgent need of assistance.
Following earlier donations of funds and essential items, Triple i employees from across all group companies once again joined forces to contribute necessary supplies, including dry food, canned food, milk, basic medicines, clothing, and daily necessities. These items were airlifted from Don Mueang Airport through the support of our partner Teleport for air transportation, and Mukda Air Cargo for local distribution to affected communities in the area.
In addition, drinking water was delivered to the Mirror Foundation to further support flood relief efforts.
We sincerely wish everyone strength during this difficult time and hope the situation returns to normal as soon as possible.
Asia Ground Service (AGS) and Triple i Air Express (TAX), two air cargo companies under the Triple i Group, jointly arranged essential relief supplies, including dry food, daily necessities, and basic medicines. The items were transported by air from Don Mueang to Hat Yai, with logistics support from Teleport, an AirAsia company, and local distribution support in Hat Yai from Mukda Air Cargo, our business partner, to assist those affected by the flooding.
We would like to extend our heartfelt support to everyone impacted and express our deepest condolences for all losses. We sincerely hope the situation will return to normal soon.
Mr. Tipp Dalal (third from right), Chief Executive Officer of Triple i Logistics Public Company Limited (III), received the Training Service Provider Certification from Air Chief Marshal Manat Chavanaprayoon (third from left), Director General of the Civil Aviation Authority of Thailand (CAAT). The certification recognizes DGP Training, a subsidiary of Triple i Group, as a certified provider of Dangerous Goods Training Programs and Competency-Based Assessments (CBTA).
This milestone represents an extension of DGP’s long-standing expertise in integrated hazardous and chemical logistics services, expanding into knowledge transfer and professional training for individuals and organizations involved in air transport of dangerous goods. All programs are designed to comply with international standards set by the International Civil Aviation Organization (ICAO), contributing to enhanced safety and efficiency in Thailand’s air transport sector.
DGP Training has launched its first CAAT-certified program, CBTA 7.1 – Personnel Responsible for Preparing Dangerous Goods Consignments, tailored for operators and personnel engaged in the preparation of dangerous goods for air transport. The next program, CBTA 7.3 – Personnel Responsible for Processing or Accepting Dangerous Goods Consignments, is currently under CAAT’s certification process and will be open for registration soon.
“Triple i” Achieves Highest AAA Rating in SET ESG Ratings by the Stock Exchange of Thailand
Triple i Logistics Public Company Limited has been awarded an AAA rating, the highest level, in the SET ESG Ratings 2025, marking a continued improvement from its AA rating in 2024.
This recognition reflects the Company’s strong commitment to elevating business standards with a comprehensive focus on sustainability across all dimensions — environmental, social, economic, and governance. The Company has also established clear goals and strategic plans to foster participation at every level of the organization, ensuring collective progress toward sustainable development.
Importantly, this achievement serves as a key driving force for Triple i in advancing toward its vision of becoming a leading regional logistics service provider with stable and sustainable growth.
Executives and employees of Triple i joined together to donate blood and platelets to help patients in need through the activity “iii Blood Donation – Giving Blood, Giving Life.” The mobile donation unit was provided by Rajavithi Hospital at our headquarters. This is a meaningful activity that we have continuously organized.
On this occasion, a total of 13,500 cc of blood was collected, which statistically can help up to approximately 90 patients (as each patient requires an average of about 150 cc of blood).
Rajavithi Hospital also noted that blood supplies remain in shortage. Those who are interested are encouraged to donate blood at nearby hospitals to help ensure sufficient reserves for patients in need.
Triple i Hosts Children’s Drawing Contest to Inspire Creativity and Imagination
Triple i organized the final round of a drawing contest for students representing seven public primary schools in the Yan Nawa district under the theme #TheFutureWorld.
This event was not about competing to win first place. Instead, Triple i aimed to provide a creative space where children could freely express their imagination and unleash their creativity. Therefore, there were no first- or second-place prizes—only Outstanding and Excellent awards, which every participating student received.
The activity was strongly supported by our senior leadership, led by Ms. Thipp Dalal, CEO, and Mr. Virach Nobnomtham, CFO, along with members of our Board of Directors, who joined in judging the artworks and presenting scholarships to the students.
Triple i Drawing Contest to Promote Creativity and Imagination – 1st Edition
The competition was conducted in school rounds among seven public primary schools in Yan Nawa, the community where our headquarters is located, to select representatives from each school for the final round held at Triple i’s headquarters.
During the preliminary rounds, more than 200 upper-primary students participated under the theme “My Livable World.” In the final round, 14 student representatives from the seven schools once again showcased their imagination and creative power under the theme “The Future World.”
Triple i is proud to play a role in encouraging creativity and providing a platform for children to express their potential. We remain committed to supporting the quality growth and development of young people in our community.
Participating schools:
Wat Chong Nonsi School, Wat Chong Lom School, Wat Khlong Phum School, Wat Khlong Mai School, Wat Dokmai School, Wat Pariwat School, and Prathom Nonsi School.