PG racks up huge profits

BANGKOK Bangkok Airways Public Company Limited announced improved operating results for the first quarter of 2016, up 15.5% to reach  THB7,775.7 in revenue and a net profit of THB1,574.6 million up 44.9%.

Bangkok Airways PCL president, Puttipong Prasarttong-Osoth, commented: “Net profit increased  THB487.9 million, or 44.9%  over same period last year, due  to the growth in passengers,  better average fares and declining fuel costs.”

Bangkok Airways fares are usually the second highest of all Thailand-based airlines after the national airline Thai Airways International, but significantly higher than the country’s three low cost airlines Nok Air, Thai AirAsia and Lion Air.

Puttipong Prasarttong-Osoth

The airline enjoyed a 10.5% increase in passengers in the first quarter of  2016.

Based on point-of-sale, Asia (excluding Thailand) saw an increase of 18.2% in passengers, which was largely supported by sales in Singapore, Vietnam, Hong Kong, Myanmar and Taiwan. The average passenger load factorincreased from 71.9% up from 74.4%. Passenger yield per RPK was THB5.44, increased from previous year by THB4.5%.

Recently, the airline took delivery of new aircraft; two ATR72-600s and one Airbus A319. The fleet stands at 33 aircraft (13 ATR72-500s and ATR72-600s and 20 Airbus A319s and A320s). Two to three aircraft are due to be delivered later this year.