Bangkok Airways Public Company Limited (BA) announces the Company’s operating results for the third quarter of 2021. For this period, The Company reported a net loss that amounted to 6,987.3 million baht.
The majority of the loss was realized from the one-off transaction terminating the lease agreement with the Samui Airport Property Fund, which amounted to 5,434.7 million baht. When factoring out the net loss from the termination of the lease agreement, the loss from operations was 1,243.8 million baht.
Total revenue for the third quarter of the year 2021 was 672.3 million baht, decreased by 25.3 percent compared to the same period last year. The downtrend resulted from the third wave of the COVID-19 pandemic in Thailand, combined with the government imposed travel restrictions from July to August 2021. The Company began to resume domestic flights such as Bangkok – Samui, Bangkok – Chiang Mai, Bangkok – Sukhothai, Bangkok – Lampang, and Bangkok – Phuket in September 2021.
Mr. Puttipong Prasarttong-Osoth, President of Bangkok Airways Public Company Limited, commented that “For the nine-month period of 2021, the Company’s total revenue was 3,472.4 million baht, decreased by 57.5 percent from the same period last year. That mainly resulted from a decline of passenger revenue from airline business by 88.3 percent, together with airport business decreasing by 85.0 percent. The number of flights-flown decreased by 75.9 percent compared to the same period last year. The passenger load factor was at 55.2 percent. For the nine-month period of 2021, the Company declared the total expenses at 6,083.2 million baht, dropping by 51.8 percent from the same period last year. Overall, the Company, therefore, reported an operating loss at 2,587.4 million baht.”
In the third quarter of 2021, the Company adjusted flight plans, flight routes, and flight frequency to meet travel needs and to comply with government orders regarding the preventive measures of COVID-19 outbreak. In addition to that, the Company also operated flight services that supported Thailand’s reopening projects which are Samui Plus and the Phuket Sandbox model with the highest hygiene standards.
The Company reported a share of profit from associated companies for the nine months of 2021 at 413.4 million baht, mainly from the share of profit from WFS-PG Cargo Company.