Bangkok Airways Public Company Limited (BA) reported a strong performance for the third quarter of 2025 (3Q25), posting a net profit of THB 1,046.9 million, up 55.5% year-on-year (YoY) from THB 673.3 million in 3Q24. Earnings per share (EPS) also rose 56.3% to THB 0.50.
| Quarter | 3Q25 | 3Q24 |
| Net Profit (Loss) Million Baht |
1,040.92 | 671.22 |
| Earning Per Share (Baht) |
0.50 | 0.32 |
| % Change | 55.08 | |
| 9 Months | 9M25 | 9M24 |
| Net Profit (Loss) Million Baht |
3,117.57 | 3,256.64 |
| Earning Per Share (Baht) | 1.48 | 1.55 |
| % Change | -4.27 | |
The impressive profit growth came despite a slight 0.5% YoY decline in total revenue to THB 6,460.1 million. The key driver was effective cost management, which saw total expenses fall 7.4% YoY, mainly due to lower fuel and maintenance costs. Fuel expenses declined THB 151.8 million, while the absence of major scheduled maintenance further reduced costs. As a result, operating profit rose 11.4% to THB 1,526.9 million.
On the revenue side, the airline business faced ongoing pressure. Passenger numbers fell 1.7% YoY to 1.04 million, reflecting weaker demand on international and Indochina routes, which saw a 23% decline on average. The drop in passenger traffic was compounded by a 13.5% contraction in Thailand’s tourism sector, including a 37% plunge in Chinese arrivals. BA also reduced flight frequency on routes such as Bangkok–Phnom Penh amid border tensions and suspended the Lampang–Mae Hong Son route.
However, non-airline businesses provided crucial support. Airport-related revenue increased 5.3% YoY, led by strong performances from Bangkok Air Catering (+15.6%) and Bangkok Airways Ground Service (+47.6%). Passenger traffic on Samui routes also rose 6.0%, helping offset declines elsewhere. Additionally, BA recorded a THB 211.1 million reduction in foreign exchange loss compared with 2024, further strengthening the bottom line.
