BA Reports 247% Profit Growth from Higher Travel Demand and Flight Frequencies

Bangkok Airways Public Company Limited (SET: BA) has announced its 2023 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 2023 2022
Net Profit (Loss)

Million Baht

3,110.0 -2,110.2
Earning Per Share


1.4800 -1.0100
% Change 247.4


BA reported a net profit of THB 3,110.03 million, an increase of THB 5,220.2 million or 247.4% compared to a net loss of THB 2,110.18 million last year. The total revenue for 2023 was THB 21,732.5 million, an increase of THB 8,990.4 million or 70.6% from the total revenue of THB 12,742.1 million in 2022.

The increase in revenue comprised passenger revenue from airline business 68.6%, airport-related business 19.6%, and airport business 2.0% of total revenue, respectively.

Passenger revenue from the airline business was THB 14,913.8 million, increased by THB 6,462.6 million or 76.5% from a higher number of passengers. The company carried 3.9 million passengers and operated 44,774 flights. The average load factor was 79.2%, surpassing the year 2019 by 11.1 percentage points. The average fare was THB 3,756.1 per sector, increased by 19.2% from last year.

The sales and services revenue from airport-related business was THB 4,269.5 million, increasing by 68.5% compared to last year, mainly from revenue from Worldwide Flight Services Bangkok Air Ground Handling amounted to THB 2,465.1 million or 11.3% of total revenue.

For this period, the company reported other revenues of THB 1,360.9 million. An increasing amount of THB 441.8 million was mainly from rental and services, excess baggage, ticket fees, and breakage tickets.

In 2023, the company had income tax revenue of THB 1,429.3 million, mainly from deferred tax relating to the origination and reversal of temporary differences, amounted to THB 1,592.2 million.

In addition, BA announced a dividend payment of THB 0.50 per share to be paid on 23 April 2024. The ex-dividend date is 6 March 2024.