BA: Third Quarter Earnings Plunged 344.6% YoY
Bangkok Airways reported net loss of THB 6,977 Million amid business disruption due to government imposed travel restrictions mid of this year
Bangkok Airways Pcl. (BA) reported third quarter 2021 loss of THB 6976.9 million which shows loss increased by 344.6% YoY and 917% QoQ. Earnings for the nine-month period ended in September amounted to THB 8,408.5 million.
Total revenue for third quarter 2021 amounted to THB 672.3 million, a decrease of 25.3% YoY. The company reported the decrease was mainly due to government-imposed travel restriction from April to August to contain third wave of COVI-19 pandemic. Passenger revenue from airline business and airport business decreased by 83.2% and 81.7% respectively. However, airport related operations business increased by 15.8% YoY mainly attributed to Bangkok Air Catering.
The airline implemented prudent cost control, total expenses in third quarter 2021 decreased THB 2,112.8 million, a decline of 12.6% YoY.