BA Records a Net Loss of ฿5.2Bn as Coronavirus Outbreak Hinders Int’l-Domestic Air Travel

Bangkok Airways Public Company Limited (BA) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

In 2020, BA recorded a net loss of 5,283 million baht, contrasted to its 350 million baht of net profit in 2019.

The company reported total revenue amount 10,216.3 million baht, decreased by 64.2%. The downward of total revenue was resulted from airline business decreased by 70.4%, airport business decreasing by 67.6% and airport-related businesses decreasing by 57.5%.

 

Regarding to the outbreak of COVID-19 in 2020, the Company decreased operational activities to corporate with government orders related to COVID-19, the Announcement of the Government Administration in an Emergency Situation 2015 (Emergency Act), the Announcement from Civil Aviation Authority of Thailand (CAAT) regarding to COVID-19 spread out as well as the declining travel demand. CAAT, Civil Aviation Board Regulations No. 97 granted permission to the company to temporarily suspend 8 domestic routes and all international routes started from 29 March 2020). However, all flight operations were suspended during 6 April – 14 May 2020 in accordance with Civil Aviation Board Regulations No. 97. In 15 May 2020, first resumed route was Bangkok-Samui with 14 flights per week.

In the second quarter, when COVID-19 pandemic situation was under control and recovered, the Company operated 4 domestic routes: Bangkok-Samui, Bangkok-Sukhothai, Bangkok-Lampang and Bangkok-Chiangmai.

In the third quarter, the Company added flight frequency to accommodate the higher travel demand as well as resumed 2 domestic routes: Bangkok-Phuket (3 flights per week) and Samui-Phuket (2 flights per week).

The company adjusted flight frequency to match with travel demand in the fourth quarter as shown in the table below when comparing with the third quarter this year.