BA Posted Net Loss of THB 1.02 Billion in 1Q21, Increasing Loss by 37% YoY

Bangkok Airways Pcl. (SET: BA) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows:

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht



Earning Per Share



% Change -36.8


The Company reported net loss for the period at 1,025.5 million baht of which loss attributable to the equity holders of the Company was 1,020.0 million baht. Loss per share for the period was 0.49 baht.

The total revenue of the Company for the first quarter of year 2022 were 1,698.0 million baht, increased by 25.1 percent while total expenses increased from 2,033.7 million baht to 2,487.4 million baht or around 22.3 percent. The major increase were aircraft fuel, aircraft maintenance and passenger service fee. As a results, the Company reported operating loss at 826.6 million baht, lowered by 9.2 percent compared with year 2021

For the first quarter of year 2022, the Company reported the loss before interest and tax, depreciation, amortization (EBITDA) and net loss were 95.0 million baht and 1,025.5 million baht respectively. Loss per share for this quarter was 0.49 baht.

The sales and services revenue from airport-related business was 504.0 million baht, increasing by 41.6 percent compared to the same period last year. An increasing revenue was mainly from Bangkok Air Catering with the higher revenue at 72.0 million baht, and the higher amount at 38.0 million baht from Worldwide Flight Services Bangkok Air Ground Handling. The amounts improved by 321.0 percent and 14.9 percent, respectively. For this quarter, the Company had gain on foreign exchange rate amounted to 37.2 million baht during the period.

In the first quarter of year 2022, total other revenues reported at 183.3 million, dropped by 255.4 million baht or 58.2 percent compared with year 2021. This was mainly due to lower revenue from breakage ticket by 226.0 million baht.

The improvement resulted from the relax measures of travel restriction and quarantine requirements that urge travel demand to Thailand. For the first quarter of year 2022, the Company reported that passenger carried at 0.4 million, increasing by 145.8 percent; passenger load factor at 63.5 percent and average fare was 2,469.6 baht per sector, growing by 31.3 percent compared to year 2021.