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Bangkok Airways Announces Operating Results for 2020 Total Revenue 10,216.3 Million Baht

March 4, 2021 Financial No Comments Email Email

Bangkok Airways Public Company Limited (BA) announces the company’s operating results for 2020 with a total revenue amounting to 10,216.3 million baht, decreased by 64.2 percent compared with the previous year. This is due to travel restrictions and a dramatic slump in air traffic demand since the beginning of year 2020, which has caused the company to suspend and terminate some routes in order to cooperate with government orders, as well as the announcements from the Civil Aviation Authority of Thailand (CAAT). This is in keeping with the overall decline in travel demand impacted by the COVID-19 pandemic.

Mr. Puttipong Prasarttong-Osoth, President of Bangkok Airways Public Company Limited commented that, “For year 2020, the company reported a total revenue amount of 10,216.3 million baht, decreased by 64.2 percent. The downward trend of total revenue resulted from airline business decreased by 70.4 percent, airport business decreasing by 67.6 percent and airport-related businesses decreasing by 57.5 percent. The company reported net loss at 5,327.8 million baht of which the loss attributable to the equity holders of the company was 5,283.2 million baht. Loss per share for the period of year 2020 was 2.56 baht.

The company has adjusted the flight operational plans to be in accordance with travel restrictions and the travel demand which has led to the company to gradually stopped operation on many routes since March 2020 until announcing a temporary suspension of all routes during the period from 6 April – 14 May 2020. The company has resumed its operations since 15 May 2020, starting with resumption of some of the high traffic routes including Bangkok-Samui, Bangkok-Chiang Mai, Bangkok-Lampang, Bangkok-Sukhothai, Bangkok-Phuket, Bangkok-Trat, Bangkok-Krabi, Phuket-Samui, Phuket-Hat Yai and Phuket  U-Tapao. In 2020, the company had a total of 1,884,603 passengers, decreased by 67.8 percent compared to the same period last year. The load factor was reported at 62.9 percent.

In addition to that, the company has announced precautionary and transmission prevention plans for the airline and their three airports regarding COVID-19, in order to reassure and insure passenger health and safety.

For investment businesses, the company has invested in joint ventures “BBS,” which is the consortium of Bangkok Airways PCL., BTS Group Holdings PCL., and Sino Thai Engineering and Construction PCL. under the name called “U-Tapao International Aviation Co., Ltd. (UTA) with paid up capital of 4,500 Million Baht. “U-Tapao International Aviation Co., Ltd. (UTA) signed the PPP agreement with the EEC to develop U-Tapao Airport and Eastern Airport City project for the concession period of 50 years.

In addition, Bangkok Air Aviation Training Center Company Limited, a subsidiary company of Bangkok Airways Public Company Limited and is an appointed by the International Air Transport Association (IATA) as a regional aviation training center, received a certificate from the Aviation Training Organization (Certificate of Training Organization Approval) from the Civil Aviation Authority of Thailand

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