Bangkok Airways posts 69% decline in full-year operating revenue

Bangkok Airways’ losses widened in 2020, as it reports a 69% decline in operating revenue to Bt7.95b ($262m) for the year. Revenue from its airline business, which accounted for 55% of the company’s total revenue in 2020 versus 67% in 2019, was down 70% year-on-year to Bt5.64b compared to 2019. Costs relating to airline operations more than halved to Bt10.9b. Likewise, revenues from the company’s airport and airport-related businesses declined by 67.6% and 57.5%, respectively. On the whole, the group recorded a loss before interest and taxes of Bt3.56 billion for the year ending 31 December 2020, widened from a Bt364 million loss in 2019. ASKs were cut by 69% for the year, while RPKs declined by a comparable percentage. Passenger load factor fell from 68.1% in 2019 to 62.9% in 2020.<br/>