BANGKOK, 6 March 2026: Bangkok Airways Public Company Limited (PG) reported its 2025 annual operating results last week, confirming an operating profit of THB5,589.2 million, an improvement of THB135.6 million or 2.5% over 2024
Higher revenues from airports and related businesses mainly drove the increase, up 11.6% and 10.9%, respectively, compared with 2024.
In its executive summary filed with the Stock Exchange of Thailand on 27 February, the company reported a net profit of THB3,549.2 million, with earnings per share of THB1.69.
On international routes, passenger numbers declined due to geopolitical tensions between Thailand and Cambodia. The majority of passenger revenue came from the company’s website and direct connect systems. The company’s average passenger load factor was 76.1%, down 4.2 percentage points from 2024.
Meanwhile, the company’s total expenses increased by 0.4%, primarily due to higher administrative expenses and foreign exchange losses. Consequently, the company recorded profit before income tax of THB4,343.1 million and a net profit of THB3,580.3 million.
Bangkok Airways Public Company Limited President and CEO Puttipong Prasarttongosoth stated in the SET report that during its fiscal year ending 31 December 2025, the company served 4.2 million passengers, a 2.5% decrease from the previous year. The passenger load factor stood at 76.1% while domestic passengers accounted for 88.7% of all passenger traffic. The proportion of international passengers decreased due to the impact of geopolitical conflicts.
QT4 2025 standouts
However, in QT4 2025, which is Thailand’s peak tourist season, the company increased flights on popular routes such as Bangkok–Samui, Bangkok–Krabi, and Bangkok–Trat. Passengers in the fourth quarter reached 1 million, a decrease of 3.1%, with an average passenger load factor of 76.1%
The company returned one Airbus aircraft upon completion of the lease agreement, necessitating the optimisation of seat capacity to align with its network strategy and profitability. In October 2025, the PG discontinued the Bangkok–Lampang route, following the termination of the Lampang–Mae Hong Son route in July 2025. As a result, total seat capacity in the QT4 2025 decreased by 5.1% compared with 2024.
Operating profit for QT4 2025 was THB 823.7 million, an increase of 7.1%, and net profit was THB 441.5 million.
Puttipong concluded that despite challenges from the slowdown in tourism and geopolitical factors in 2025, “Bangkok Airways Public Company Limited maintained its profitability, aided by fleet restructuring, strategic investments, and upgrades to sustainability standards, thereby strengthening its long-term resilience.”
(Source: Bangkok Airways report SET)
