Bangkok Airways sinks deeper into red as Q3 revenues plummet

Bangkok Airways sank deeper into the red, as third-quarter revenues declined by 86.5% to Bt903m ($30m). Revenue from airlines, which in the year-ago period accounted for more than two-thirds of total revenues, was nearly wiped out, declining by 91.3% year-on-year to Bt394m. Over the same period, costs associated with airline operations were down by 69.5% to Bt1.36b. The group’s total expenses fell by 62.6% to Bt2.42b, and it posted a loss before interest and tax of Bt1.15b for the three months ended 30 September, compared with a Bt141m EBIT in the same period last year. For the period of January to September, airline revenues fell 65.9% year-on-year to Bt5b, while costs associated with airline operations were Bt6.87b, down 49.9%. Overall ASKs for the third quarter were cut by 90% year-on-year, while RPKs dropped nearly as much. Load factor increased slightly from 64.8% in the third quarter of 2019 to 68.6% in the recent quarter.<br/>