Bangkok Airways (BA) announces its operating results for the third quarter of 2019; net profit 65.9 million baht; up by 66.3 percent

Bangkok/ 14 November 2019 – (Today) Bangkok Airways Public Company Limited announced its operating results for the third quarter of 2019 which showed the total revenue amounting to 6,698.9 million baht, with a reported net profit of 65.9 million baht; up by 66.3 percent compared to the same period last year.

Mr. Puttipong Prasarttong-Osoth, President of Bangkok Airways Public Company Limited commented that, "In the third quarter of 2019, the company had a total revenue of 6,698.9 million baht. The company reported net profits of 65.9 million baht, higher than the same period last year by 66.3 percent. The better performance was mainly due to an increase of revenue from airport related businesses and unallocated revenues, together with a significant reduction of major expenses in airline business."

"In the third quarter of 2019, Bangkok Air Catering Company Limited (BAC) had 2 new airline customers (total 21 airline customers to date), Bangkok Air Ground Handling Company Limited (BFS Ground) had 8 new airline customers (total 84 airlines to date) and WFS-PG Cargo Company Limited (BFS Cargo) had 6 new airline customers (total 74 airlines to date)."

"For the nine-month period of 2019, the company has thus far accumulated a total revenue of 20,540.2 million baht, decreased by 2.5 percent. Decreasing revenue was from airline and airport businesses which dropped by 6.9 percent and 9.7 percent respectively. Revenue from airport related businesses and unallocated revenue grew by 6.7 percent and 22.1 percent since last year. For the nine-month period of the year 2019, the number of passengers of Bangkok Airways decreased by 1.7 percent compared with the same period last year due to slow performance from point-of-sale in Thailand and e-commerce channels. The international point-of-sale represented the largest proportion in terms of numbers of passengers which were mainly from Europe and Asia regions (excluding Thailand). Southeast Asia region contributed the highest growth rate at 23.0 percent, followed by the passengers from the North America region at 10.0 percent and the South Asia region at 3.0 percent. For the nine-month period of 2019, the company reported a net loss of 121.3 million baht. The loss was attributed to the equity holders of the company and was 131.5 million baht. Loss per share for the nine-month period of 2019 was 0.06 baht.

"During the first nine months of 2019, the company implemented the new Passenger Service System (PSS) in July 2019, to enhance passenger services. In August 2019, the company and Turkish Airlines announced a new codeshare partnership, providing Turkish Airlines passengers a convenient and seamless connection to their destinations in Thailand and other cities in Southeast Asia including Cambodia, Laos, Myanmar and Vietnam. To date, the company has a total of 27 Codeshare partners. In the same period, the company opened new passenger lounges at Phuket International Airport to facilitate Bangkok Airways domestic passengers."

"The company received Smart Travel Asia Awards as "Top 10 Best Cabin Service Worldwide" in the Best in Travel Poll 2019. Best in Travel Poll 2019 was conducted by SmartTravelAsia.com, a leading travel website in Asia. In addition to that, the company was also named 2020 Five Star Major Airline by APEX (the Airline Passenger Experience Association. The APEX Official Airline Ratings™ is based on neutral, third-party passenger feedback and insights gathered through the APEX partnership with TripIt®, the world's highest-rated, travel-organizing app." Mr. Puttipong added.