Bangkok Airways reports massive Q3 loss

BANGKOK, 18 November 2020: Bangkok Airways PCL’s third-quarter revenue totalled THB903 million down by 86.5% when compared with the same quarter in 2019. The third-quarter net loss reached THB1,585.1 million.

The airline’s president, PuttipongPrasarttong-Osoth, blamed the loss on the impact of the Covid-19 pandemic that led to a lockdown and shutdown of international air travel to Thailand imposed by the Civil Aviation Authority of Thailand.

During the third quarter of 2020, the company resumed its main domestic routes such as Bangkok -Samui, Bangkok- Chiang Mai, Bangkok- Sukhothai, Bangkok-Lampang, Bangkok-Phuket and Samui-Phuket. 

For the nine months of 2020, the company reported total revenue amounting to THB8,196.4 million down 60.1% compared to the same period last year. The group’s airline business decreased by 65.9% airport operations business decreased by 64.9%. Passenger numbers decreased by 65.1%, while international passengers dropped by 74.3%. Airport-related businesses dropped by 54.8.

The company reported a net loss at THB 4,918 million over the nine months. The loss was attributed to the equity holders of the company at THB4,882.5 million. Loss per share for the nine-month period of 2020 stood at THB 2.37.

Airport-related businesses at Samui, Sukhothai and Trat reported massive declines after the Civil Aviation Authority of Thailand’s banned all international flights to Thailand effective 7 April 2020.

However, resumption of domestic flights triggered a recovery with Bangkok Air Catering reporting that inflight meals rose by 196% when compared with the second quarter although the decrease was 97% when compared with the third quarter last year.

(Source: Bangkok Airways)

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