Bangkok Airways posts 12 per cent revenue increase in first half
BANGKOK Airways posted revenue of Bt13.83 billion in the first half of this year, an increase of 12.5 per cent over the first six months of 2015.
Net profit in the first half was reported at Bt1.46 billion, up by 23 per cent thanks to a higher number of passengers, company president Puttipong Prasarttong-Osoth said.
He added that in the second quarter, revenue was Bt6.05 billion, up by 8.8 per cent year on year, also mainly attributed to a higher number of passengers.
Profit before income-tax expenses was Bt491.7 million. Nevertheless, additional taxes of Bt447 million were filed because of the change in calculation for tax privileges granted by the Board of Investment. This change, announced by the Finance Ministry on June 16, caused the company to have a net loss of Bt111.9 million.
Bangkok Airways recently signed a codeshare agreement with Austrian Airlines, the flag carrier of Austria, increasing its codeshare partners to 21. This partnership provides BA greater connectivity between Europe and Thailand and seamlessly enables passengers of Austrian Airlines to connect with tourist destinations in Thailand and Cambodia.
BA expects to sign new codeshare agreements with two or three more airlines during the current second half of the year.
During the second quarter, Bangkok Airways commenced the operation of two new routes, between Chiang Mai and Mae Hong Son and between Bangkok and Danang in Vietnam.
The Chiang Mai-Mae Hong Son route aims to serve tourists and business travellers, particularly government officers, as these two provinces are prominent destinations for leisure and business. The company has been operating 10 flights per week since April 24.
The route between Bangkok and Danang mainly targets leisure travellers and MICE (meetings, incentives, conferencing and exhibitions) travellers, as Danang is considered a strategic air-travel hub in the Southeast Asia region.
