Bangkok Airways Reports Net Loss of 756.5 Million Baht in Q1 2021

Bangkok Airways has reported a net loss of 756.5 million Baht in Q1 2021, with revenue decreasing 78.8% to 1,357.2 million Baht.

Mr. Puttipong Prasarttong-Osoth, President of Bangkok Airways, said, "The fall in revenue was from all sectors - the airline business decreased by 93.3%, airport businesses decreased 91.6% and airport-related businesses decreased by 64.2%.

"Over the first quarter of the year 2021, total expenses of the company were reduced to 2,033.8 million Baht, dropping by 69.6% (6,683.6 million Baht) from the same period last year. The company reported net losses at 756.5 million Baht of which the loss attributable to the equity holders of the company was 745.6 million Baht. Loss per share for the period was 0.36 Baht."

The airline’s international fights are still suspended in accordance with government regulations. Consequently, the number of flights operated in the first quarter of 2021 dropped by 85.6% while the number of passengers carried decreased by 88.5% when compared with the same period of last year. The overall load factor of the airline in the first quarter of 2021 was 58.8%.

The Airport of Thailand Public Company Limited (AOT) approved a relief measure due to the COVID19 pandemic for all business operators including Bangkok Air Catering (BAC), Worldwide Flight Services Bangkok Air Ground Handling Company Limited (BFS Ground) and WFS-PG Cargo Company Limited (BFS Cargo). The relief measures offered a 50% discount of rental fees and waiver of the minimum guarantee obligation.

For airport-related businesses and investments, in the first quarter, U-Tapao International Aviation Co., Ltd. (UTA) started building site preparation by separating existing airside and landside areas for construction. Area management for construction was put in place in late March 2021.

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