Bangkok Airways (BA) Announces Operating Results For The First-Half Of 2016

Published on : Thursday, August 11, 2016

Bangkok AirwaysBangkok Airways Public Company Limited announces its operating results for the six-month period of 2016 which has the total revenue amounting to 13,830.4 million baht, increased by 12.5 percent. The net profit was reported at 1,462.6 million baht, increased by 23 percent from the six-month period of the previous year.

 
Mr. Puttipong Prasarttong-Osoth, President of Bangkok Airways PCL commented that, “In the second quarter, total revenue of the company was 6,054.7 million baht, increased by 8.8  percent from the same period in the previous year,  mainly based on higher number of passengers. Profit before income tax expenses was 491.7 million baht; nevertheless, additional tax return at the amount of 447.0 million baht was filed because of the change in corporate income tax calculation for tax privileges granted by the Board of Investment (BOI) in which the practice of the Revenue Department shall be followed as announced by the Ministry of Finance dated 16 June 2016 which caused the Company to have net loss at the amount of 111.9 million baht.”
“For the six-month period, the company has total revenue amounting to 13,830.4 million baht, increased by 12.5 percent. The company has net profit before income tax amounting to 2,308.1 million baht for the first half of 2016. After deducting tax, net profit would be 1,462.6 million baht which was attributable to equity holders of the company at the amount of 1,425.3 million baht. Earnings per share is at 0.68 baht which is higher than the same period last year by 23.6 percent.” Mr. Puttipong added.
Bangkok Airways has recently signed codeshare agreement with Austrian Airlines, the flag carrier of Austria, increasing its codeshare partners to 21. This partnership helps Bangkok Airways create a greater connectivity between Europe and Thailand and seamlessly enable passengers of Austrian Airlines to connect with world-class tourist destinations in Thailand and Cambodia from Vienna via Bangkok. The company expects to sign new codeshare agreement with2-3 airlines for the second half of the year.
During the 2nd quarter, Bangkok Airways commenced the operation of two new routes between Chiang Mai and Mae Hong Son, and between Bangkok and Danang. The first route from Chiang Mai to Mae Hong Son aims to serve tourists and corporate travelers, particularly government officers as these 2 provinces are prominent destinations of leisure and business. The company operates 10 flights per week since 24 April 2016. The second route between Bangkok and Danang mainly targets leisure travelers and MICE (Meetings-Incentives-Conferencing-Exhibitions) travelers as Danang is considered as one of our strategic flying hubs in the South East Asia region. It is the third largest city and a major port in Vietnam. The city is situated on the Eastern Sea and is close to UNESCO World heritage site. It operates 4 flights per week from 25 May 2016 onward.
In addition, the company increased flight frequencies for the route between Bangkok and Nay Pyi Taw from 5 flights to 6 flights per week in which the additional flight is on Sunday. This could enhance the convenience to the passengers, especially the corporate travelers who have to contact Myanmar’s government agencies which are the main target market of this route.
Currently, Bangkok Airways’ fleet consists of 33 aircrafts; 13 of turbo-prop ATR72-500/600s, 20 of Airbus A319s/A320s.

 

Source:- Bangkok Airways

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