Bangkok Airways’ 2019 profit up despite dip in passenger revenue

Bangkok Airways boosted operating profit 18% to Bt1.68b ($53.2m) last year, despite a decline in revenue from the passenger segment. Revenue rose 2.4% to Bt28.6b. However, passenger revenue fell 6.9% to nearly Bt18.9b, which the carrier attributed to a strengthening of the Thai baht against major currencies, a 1.6% decline in overall passenger numbers to 5.86m, and strong competition. Net profit climbed 41% to nearly Bt351m. Passenger load factor declined marginally to 68.1%, as increases in the domestic figure could not compensate a fall in the international one. Passenger yield fell 4.2%. Traffic was down 3.1%, as capacity was cut 2.4%. Unit costs including fuel edged up 2.6% and was up 4% ex-fuel. The carrier began a Bangkok-Cam Ranh services last year, as well as flights linking Chiang Mai with Krabi and Luang Prabang. But it suspended services to Phuket and Hanoi from Chiang Mai.<br/>