BA Reports a ฿338mn 1Q Operating Loss due to Covid-19 on Flight Suspension

Bangkok Airways Public Company Limited (BA) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

BA reported a net loss of 338.8 million baht in 1Q20, decreased 167% when compared to a net profit of 504 million baht in 1Q19, the downward of total revenue was resulted from airline business decreasing by 25.2%, airport business decreasing by 18.4% and airport-related businesses decreasing by 14.6%.

 

The operating revenue of BA for the first quarter of year 2020 were 6,082.5 million baht, decreased by 21.1% YoY while total operating expenses decreased from 6,920.3 million baht to 6,683.6 million baht or around 3.4%. 

 

Due to the covid-19 pandemic which severely has affected to airline industry since late of year 2019. BA decided to suspend and terminate some routes during March 2020 to match with low traveling demand and cooperated with government orders as well as the announcement from Civil Aviation Authority of Thailand (CAAT) regarding to COVID-19 spread out situation. As a result, for the first quarter of year 2020, the number of passenger decreased 23.3% compared with the same period last year.