BANGKOK, 19 May 2021: Bangkok Airways Public Company Limited
reported Tuesday operating results for the first quarter of 2021, showing a net
loss of THB 756.5 million.

Total revenue reached THB1,357.2 million, a drop of 78.8%
compared to the first quarter performance 2020.

Bangkok Airways president Puttipong Prasarttong-Osoth
provided details in a media statement noting the decline in revenue spanned all
sectors of the airline’s business sectors.

“Airline business decreased by 93.3%, airport businesses
91.6% and airport-related businesses 64.2%. Over the first quarter of 2021,
company expenses totalled THB2,033.8 million dropping 69.6% (THB 6,683.6
million) from the same period last year. As a result, the company reported a
net loss at THB756.5 million, of which the loss attributable to the company’s
equity holders was THB745.6 million. Loss per share for the period was 0.36
baht.”

The company’s international fights remain suspended based on the government and the Civil Aviation Authority of Thailand (CAAT) orders. Domestic flights reduced to match travel demand. During the first quarter, they dropped by 85.6%, while passengers carried decreased by 88.5%. As a result, the overall load factor stood at 58.8% during the first quarter of 2021.

The Airport of Thailand (AOT) approved relief measures due
to the Covid-19 pandemic for all business operators, including Bangkok Air
Catering (BAC), Worldwide Flight Services, Bangkok Air Ground Handling Company
Limited (BFS Ground) and WFS-PG Cargo Company Limited (BFS Cargo). The relief
measures provided a 50%  discount on
rental fees and a waiver of the minimum guarantee obligation.

(Source: News Bangkok Airways)