Bangkok Airways bags Q1 profit

BANGKOK 16 May 2019: Bangkok Airways’ first-quarter results delivered a THB510.8 million net profit for the public listed airline.

Total revenue reached THB7,789.9 million. The net profit was reported at THB510.8 million.

Bangkok Airways Public Company Limited president, Puttipong Prasarttong-Osoth, noted the profit attributable to the company’s equity holder stood at THB504.3 million, while earnings per share equal to THB0.24.

During the first quarter, January to March, the airline carried 1.73 million passengers and the system-wide passenger load factor averaged 74.6%.

The airline continues to rely on European travellers representing 25% of all passengers carried, while home-based passenger traffic out of Thailand represented 23% and Asia, excluding Thailand, supplied 20% of the passenger uplift.

The airline company confirmed it has joined hands with BTS Group Holding Public Company Limited and Sino-Thai Engineering & Construction Public Company Limited and submitted the proposal under the name of “BBS Joint Venture” for the bidding of the U-Tapao International Airport and Eastern Aviation City Development project which will involve a public-private partnership.

It has also been short-listed with venture partners to bid for the duty-free concession at Suvarnabhumi airport in Bangkok, competing against four other consortiums including the incumbent King Power that has enjoyed a monopoly on airport duty-free shopping.

In the first quarter of 2019, Bangkok Airways launched new direct flight services between Bangkok and Cam Ranh (Vietnam) with four flights per week and Chiang Mai to Krabi (one-way) with three flights per week. Additionally, the airline increased flights on various routes such as Bangkok-Danang (Vietnam) from seven flights a week to 14, Bangkok-Mandalay (Myanmar) from 11 flights a week to 14.