Bangkok Airways Plc (BA) posted a net loss of 393 million baht in the third quarter, while Asia Aviation Plc (AAV), the major shareholder of Thai AirAsia (TAA), racked up a net loss of 4.1 billion baht as the two carriers were pressured by increasing costs driven by surging fuel prices.
In the first nine months this year, Bangkok Airways posted a total operating loss of 1.19 billion baht, an improvement of 1.3 billion from a loss of 2.5 billion in the same period a year earlier, thanks to increased ticket sales.
Ticket sales accounted for 84% of the firm's revenue. The airline reported 8.12 billion baht in revenue in the first nine months, up from 3.47 billion year-on-year.
Revenue from Bangkok Airway's passenger fares surged to 5.17 billion baht in the first nine months, up 800% year-on-year. The company said increasing fuel prices and maintenance costs pushed up expenses during the nine-month period.
Its earnings before interest, taxes, depreciation and amortisation (Ebitda) skyrocketed by 150% year-on-year to 486 million baht. In the third quarter, the airline reported operating profit of 75.1 million baht, up 106% year-on-year.
Bangkok Airways opened two new routes in the third quarter -- Bangkok-Hat Yai and Samui-Hat Yai -- in addition to increasing flight frequency on its five existing main routes. The airline carried 1.7 million passengers on 19,648 flights over the first nine months.
Meanwhile, AAV posted a net loss of 4.1 billion baht in the third quarter, carrying on from a loss of 3.8 billion year-on-year. The loss was attributed to rising expenses, mainly higher fuel prices, maintenance costs as well as a weaker baht.
AAV registered 4.9 billion baht in total revenue for the period, a surge of 969% year-on-year.
In the first nine months this year, the resumption of air travel helped the company's revenues reach 9.5 billion baht, a 229% increase year-on-year. The firm registered an Ebitda loss of 2.9 billion baht in the nine-month period, a decline of 22% year-on-year.
AAV carried 5.89 million passengers the first nine months, with 2.75 million in the third quarter. The airline's quarterly passenger numbers have gradually increased since last year.
At the end of the third quarter, TAA had resumed 27 international routes across 11 markets.
Santisuk Klongchaiya, chief executive of AAV and TAA, said he is confident about the fourth-quarter outlook as the holiday season approaches. Some 10 million passengers are targeted by year-end, he said.
Thailand had 5.8 million foreign arrivals in the first nine months this year, with an uptick in the third quarter as pandemic restrictions were lifted.
