Bangkok Airways profits fly high

BANGKOK, 18 November 2015: Bangkok Airways’ net profit soared by more than 1,000% to THB1,779.7 million for the first nine months of the year.

Bangkok Airways Public Company Limited announced its operating results for the nine-month period of 2015, Tuesday, stating its total revenue amounted to THB18,661.3 million, while net profit was reported at THB1,779.7 million up by 1,024.3% from the same period of the previous year.

Bangkok Airways PCL president, Puttipong Prasarttong-Osoth, reported the results to the Stock Exchange of Thailand.

He noted that the company has recently entered codeshare agreements with Emirates and Air Astana creating connectivity between Europe via the Middle East and directly from central Europe to Thailand.

inside no 7Over nine months, the airline carried 3.8 million passengers. The market that had the highest growth was the Middle East, North America and Asia.

The substantial increases from the Middle East were driven by the codeshare agreement with Emirates.

Q3 Financial highlights

In the third quarter, total revenue was THB6,364 million up 20.4 % from the same period in the previous year.

Net profit was reported at THB590.8 million in which the profit attributable to the equity holder of the company was THB578.6 million.

Earnings per share equal to THB0.28. The better operating performance was mainly based on higher average fares and an increase in passengers.

Passengers carried by the airline increased by 12% for the third quarter (1.3 million passengers.) The load factor was 67.6% up 4.9 % from the same period last year.

Future expansion

Effective 1 December the airline will increase flights on the Samui-Phuket route to 45 flights per week,

On the Samui-Singapore route it will offer 12 flights per week.

The Chiang Mai-Yangon route increases to seven flights per week and Chiang Mai—Mandalay route to four flights per week.

The airline president reported that the “airline is currently talking with local carriers in the neighbouring countries such as Vietnam, Myanmar and China about possibility of launching new services to new destinations”.

Recently, Bangkok Airways has been included in the top 50 airlines in the world by financial rating (ranked 24th). The evaluation and ranking were conducted by Airfinance Journal based in the United Kingdom.

Currently, Bangkok Airways has a fleet of 30 aircrafts; 11 of turbo-prop ATR72-500/600s, 19 of Airbus A319s/A320s.