Bangkok Airways (BA) announces operating results for the third quarter of 2020; Total revenue 903 million baht

Bangkok/ 17 November 2020 – Today, Bangkok Airways Public Company Limited announces its operating results for the third quarter of 2020 which has the total revenue amounting to 903 million baht, decreased by 86.5 percent compared to the same period last year. The net loss was 1,585.1 million baht.

Mr. Puttipong Prasarttong-Osoth, President of Bangkok Airways PCL commented that, "In the third quarter of 2020, the company had total revenue of 903 million baht, decreased by 86.5 percent from the same period of the previous year. The net loss was reported at 1,585.1 million baht. This was largely due the pandemic which resulted in a shutdown policy as imposed by the Civil Aviation Authority of Thailand (CAAT) which restricted international travel. For the third quarter of the year 2020, the company resumed its main domestic routes such as Bangkok -Samui, Bangkok- Chiang Mai, Bangkok- Sukhothai, Bangkok-Lampang, Bangkok-Phuket and Samui-Phuket together with gradually increased arranged seating capacity in order to match with travel demand. The highest precautions were made for transmission prevention plans for the airline and its three airports regarding COVID-19, for the reassurance of passenger health and safety."

"For the nine-month period of 2020, the company reported total revenue amounting to 8,196.4 million baht, decreased by 60.1 percent compared to the same period last year. The downward trend of the total revenue was the result of airline business decreasing by 65.9 percent, airport operations business decreasing by 64.9 percent as well due to declining number of passengers, passenger numbers decreased by 65.1 percent, especially international passengers, which decreased by 74.3 percent. Our airport-related businesses were decreased by 54.8 percent. The Company therefore reported a net loss at 4,918 million baht. The loss was attributed to the equity holders of the company at 4,882.5 million baht. Loss per share for the nine-month period of 2020 was 2.37 baht," Mr. Puttipong added.

For airport-related businesses, The Civil Aviation Authority of Thailand (CAAT) announced that they had temporarily banned all international flights to Thailand since 7 April 2020. Nonetheless, after the prevention measures of COVID-19 were alleviated, domestic flights have been increased gradually. As a result, Bangkok Air Catering showed its number of meals prepared had risen by 196 percent comparing to the 2^nd quarter this year, but decreased by 97 percent from the 3^rd quarter last year.

In addition to that, Worldwide Flight Services Bangkok Air Ground Handling Company Limited

(BFS Ground) performed 33 percent increases in the number of flights serviced when compared with the 2^nd quarter this year. However, the total was reduced by 63 percent from the 3^rd quarter last year. Although The Civil Aviation Authority of Thailand (CAAT) announced the ban all international flights, cargo freighter flights were allowed to operate in-out Thailand. For the reason, the numbers of tonnage serviced were only reduced by 28 percent comparing to the 2^nd quarter this year. In addition, it only declined by 7 percent from the 3^rd quarter last year.

For the new investment project, In August 2020, U-Tapao International Aviation Company Limited (UTA) submitted their master plan in accordance with The U-Tapao International Airport and Eastern Airport City Project. The purposes are to set up fundamental structure and public utilities in the project for Eastern Economic Corridor (EEC) within 60 days from the contract signing ceremony.