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Monday, December 11, 2023

Bangkok Airways (BA) announces operating results for the first quarter of 2021; Total revenue 1,357.2 million baht

Bangkok Airways Public Company Limited announces its operating results for the first quarter of 2021, which has achieved a total revenue amounting to 1,357.2 million baht, decreased by 78.8 percent compared to the same period last year. The net loss was reported at 756.5 million baht.

Mr. Puttipong Prasarttong-Osoth, President of Bangkok Airways Public Company Limited commented that, “In the first quarter, total revenue of the company was 1,357.2 million baht, decreased by 78.8 percent compared to the same period of 2020, due to the continuous impact of the COVID-19 outbreak. The reduction of total revenues was from all sectors; airline business decreased by 93.3 percent, airport businesses decreasing by 91.6 percent and airport-related businesses decreasing by 64.2 percent. Over the first quarter of the year 2021, total expenses of the company were reduced to 2,033.8 million baht, dropping by 69.6 percent (6,683.6 million baht) from the same period last year. The company reported net losses at 756.5 million baht of which the loss attributable to the equity holders of the company was 745.6 million baht. Loss per share for the period was 0.36 baht.

As for flight operations, the company’s international fights are still being suspended according to government orders as well as the announcement from Civil Aviation Authority of Thailand (CAAT). Flight frequency of existing domestic routes have been adjusted to match with travel demand and all flights are operated with the highest preventive measures and standards to prevent the spread of COVID-19. Consequently, the number of flights operated in the first quarter of 2021 dropped by 85.6 percent while the number of passengers carried decreased by 88.5 percent from the same period of last year. The overall load factor of the company in the first quarter of 2021 was at 58.8 percent.

Moreover, the Airport of Thailand Public Company Limited (AOT) approved a relief measure due to the COVID-19 pandemic for all business operators including Bangkok Air Catering (BAC), Worldwide Flight Services Bangkok Air Ground Handling Company Limited (BFS Ground) and WFS-PG Cargo Company Limited (BFS Cargo). The relief measures offered a 50 percent discount of rental fees and waiver of the minimum guarantee obligation.

For airport-related businesses and investments, in the first quarter, U-Tapao International Aviation Co., Ltd. (UTA) started building site preparation by separating existing airside and landside areas for construction. Area management for construction was put in place as of late March 2021.”

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