Bangkok Airways announces operating results for the first quarter of 2018 Net profit 719.3 million baht

Bangkok Airways announces operating results for the first quarter of 2018 Net profit 719.3 million baht

Bangkok Airways announces operating results for the first quarter of 2018 Net profit 719.3 million baht

The FINANCIAL -- Bangkok Airways Public Company Limited (BA) announces its operating results for the first quarter of 2018, which has achieved a total revenue amounting to 7,830.7 million baht, increased by 4.8 percent from the same period last year.

The net profit was reported at 719.3 million baht, increased from the first quarter of 2017 by 154.3 million baht or 27.3 percent, according to Bangkok Airways.

Mr. Puttipong Prasarttong-Osoth, President of Bangkok Airways Public Company Limited commented that, "In the first quarter of 2018, total revenue of the company was 7,830.7 million baht, increased by 4.8 percent from the same period last year. That increase in total revenue was mainly due to the airline, the airport-related services and other related businesses, and airport usage revenue, which rose by 4.9 percent, 6.1 percent, and 17.1 percent respectively. As a result, the net profit of the company in the first quarter of 2018 was reported in the amount of 719.3 million baht, increased from the first quarter of year 2017 by 154.3 million baht or 27.3 percent. The profit attributable to the equity holders of the company was 710.5 million baht, with earnings per share for this quarter at 0.34 baht.”

“The enhanced performance of airline business and airports business operations resulted from the growing number of passengers. The passenger numbers in the first quarter of 2018 grew by 8.4 percent compared to the same period last year. Bangkok Airways carried 1.76 million passengers in the first quarter of 2018 and the passenger load factor was at 76.4 percent. According to the results at point-of-sale of the company, the increasing percentages of international passengers moved from 52.0 percent to 56.0 percent. The markets with the largest incremental number of passengers were from point-of-sale operations in Europe, Asia and North America respectively. Therefore, passenger revenue from outside Thailand was increased by the following amounts at point-of-sale: Europe at 28.0 percent, Asia excluding Thailand at 23.0 percent, and Thailand at 21.0 percent of total passenger revenues. In terms of point-of-sale by countries, China contributed the highest portion of passenger revenue, followed by Germany, France and United States respectively. In addition to that, Bangkok Airways signed code-share agreements with two leading airlines which are EL AL Israel Airlines and Oman Air in the first quarter of 2018 which is believed to be one of the factors leading to more passengers carried in this quarter.”

“Earlier this year, Bangkok Airways launched its non-stop flight service between Chiang Mai and Hanoi (Vietnam) with 7 flights per week using a 70-seater ATR72-500/600 aircraft. In addition to that, in the first quarter, the airline increased its flight frequency on various routes such as Bangkok-Phu Quoc (Vietnam) from 4 flights per week to 5 flights per week, Bangkok-Vientiane (Laos) from 7 flights per week to 14 flights per week.” concluded Mr. Puttipong.