Bangkok Airways
Y2023 Analyst Meeting
1 March 2023
Disclaimer
Information contained in our presentation is intended solely for your reference. Such information is subject to change without notice, its accuracy is not guaranteed, and it may not contain all material information concerning the company.
In addition, the information may contain projections and forward-looking statements that reflect the company's current views concerning future events and financial performance. These views are based on assumptions subject to various associated risks.
There is no assurance that future events will occur, that projections will be achieved, or that the company's assumptions are correct. The actual results may differ materially from those projected.
Neither the company nor any of its directors, employees, or representatives are bearing any liability (including the liability to any person because of negligence or misstatement) from any statement, opinion, information, or matter (express or implied) arising out of, contained in or derived from or any
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2
BA's Pride
7 Consecutive years
• World's Best Regional Airline
• Best Regional Airline in Asia
3
4 Business groups by BA
Boutique Airline
- Unique network to serve both tourism and business desires
- Lounge for all passengers
- Meals on board
Remark: adjusted services in compliance to CAAT's directive orders.
3 Airport Related Services at BKK Airport
• Catering Service
• Ramp & Ground Service
4
• Cargo Terminal
Own & Operate
3 Resort Style Airports
• Samui
• Sukhothai
• Trat
U-Tapao Airport and Eastern
Airport City project
Conceptual design phase
Plan & layout is subjected to change to comply with Airport Master Plan
Strategic Investments
- 4.62% in BDMS
- 9.99% in BAFS
- 7.00% in FPT (Non-Listed)
MKT Value of Listed Securities
21,696 MB
as at 31 December 2023
4
Potential International demand growth from EU
EU-Asia | International traffic achieved great recovery in 2023 |
with 88.6% of 2019 | |
Asia Pacific showed the highest yearly growth at the end of 2023, with RPKs increasing 56.9% YoY
Europe performed monthly recovery in
International traffic by 0.8% exceeded from the pre-
COVID level
Data as of December 2023 | 5 |
IVA to Thailand resumed 67% recovery to pre-COVID level
International Tourist Arrival to Thailand | 2023 BA's Passenger vs IVA to TH (EU & Asia) | ||||||||||||||||||||||||||||||||||
Unit: Million Passengers | Unit: Million Passengers | ||||||||||||||||||||||||||||||||||
4.50 | 3.93 Total of Year | 2.00 | |||||||||||||||||||||||||||||||||
3.72 | |||||||||||||||||||||||||||||||||||
4.00 | 3.60 | 39.8 | 1.80 | 1.67 | |||||||||||||||||||||||||||||||
3.47 | 3.47 | ||||||||||||||||||||||||||||||||||
3.33 | 3.36 | 3.26 | 1.51 | 1.48 | |||||||||||||||||||||||||||||||
3.50 | 3.20 | 1.60 | |||||||||||||||||||||||||||||||||
3.05 | 3.04 | 1.40 | |||||||||||||||||||||||||||||||||
1.38 | |||||||||||||||||||||||||||||||||||
2.90 | 28.2 | 1.30 | |||||||||||||||||||||||||||||||||
3.00 | 2.73 | 1.40 | 1.21 | 1.22 | 1.27 | ||||||||||||||||||||||||||||||
2.64 | |||||||||||||||||||||||||||||||||||
2.49 | 2.47 | 1.14 | |||||||||||||||||||||||||||||||||
2.27 | 1.20 | ||||||||||||||||||||||||||||||||||
2.50 | 2.18 | 2.24 | 2.20 | 2.24 | 0.99 | ||||||||||||||||||||||||||||||
2.14 | 2.11 | 2.13 | 0.97 | ||||||||||||||||||||||||||||||||
11.1 | |||||||||||||||||||||||||||||||||||
2.01 | 1.00 | 0.82 | |||||||||||||||||||||||||||||||||
2.00 | 1.72 | ||||||||||||||||||||||||||||||||||
0.71 | |||||||||||||||||||||||||||||||||||
1.26 | 1.47 | 0.80 | 0.68 | 0.61 | 0.66 | ||||||||||||||||||||||||||||||
1.50 | 1.19 | ||||||||||||||||||||||||||||||||||
1.13 | 0.60 | ||||||||||||||||||||||||||||||||||
2023 Top5 IVA & Ranking | 0.43 | 0.39 | 0.38 | 0.43 | |||||||||||||||||||||||||||||||
0.77 | 1. | Malaysia 16% - | Rank 1 | ||||||||||||||||||||||||||||||||
1.00 | 0.28 | 0.31 | |||||||||||||||||||||||||||||||||
2. | China 13% | Rank 150.40 | 0.26 | ||||||||||||||||||||||||||||||||
0.52 | |||||||||||||||||||||||||||||||||||
0.50 | 0.21 | 0.29 | 3. | Korea 6% | Rank 4 | ||||||||||||||||||||||||||||||
0.13 | 0.15 | 4. | India 6% | Rank 20.20 | |||||||||||||||||||||||||||||||
5. | Russia 5% | Rank 9 | 0.39 | 0.35 | 0.37 | 0.36 | 0.29 | 0.27 | 0.35 | 0.36 | 0.27 | 0.28 | 0.32 | 0.37 | |||||||||||||||||||||
- | |||||||||||||||||||||||||||||||||||
- | |||||||||||||||||||||||||||||||||||
Jan | Feb | Mar Apr May | Jun Jul | Aug | Sep | Oct Nov | Dec | ||||||||||||||||||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||||||||||||||||||||||||
2019 | 2022 | 2023 | BA | EU | Asia+Aus excl. Malaysia | ||||||||||||||||||||||||||||||
Supporting factors for IVA to TH growth was from Tourist Visa Exemption for 64 | IVA from EU were likely to match with BA's Passenger trend |
countries (China will apply from 1 March 2024 onwards)
0.80
0.70
0.60
0.50
0.40
0.30
0.20
0.10
-
6
Improving performance despite capacity constraint
Passengers
(Million)
34%
2%
1.46 0.94 0.97
4Q2019 4Q2022 4Q2023
9ppt
3ppt
32%
50%
5.86
3.97
2.65
Y2019 Y2022 Y2023
11ppt
3ppt
Flights
(Number)
34%
12%
17,489 10,244 11,459
4Q2019 4Q2022 4Q2023
37% | ||||||
70,810 | 50% | |||||
44,774 | ||||||
29,892 | ||||||
Y2019 Y2022 Y2023
52%
79%
79%
49%
Load Factor
76%
67%
76%
68%
Available Seat Kilometer
1,604
5%
(%)
(Million)
776 816
6,497 | 45% |
2,164 3,136
4Q2019 4Q2022 4Q2023
13%
Y2019 Y2022 Y2023
22%
78%
19,028
4Q2019 4Q2022 4Q2023
51%
15%
Y2019 Y2022 Y2023
40%
18%
Passenger
Revenue (Million)
16%
4,369
3,280 3,810
14,906
8,361
Passenger Yield
(THB/RPK)
4.05
5.33
6.13
4.30
5.08
6.00
4Q2019 | 4Q2022 | 4Q2023 | Y2019 | Y2022 | Y2023 | 4Q2019 | 4Q2022 | 4Q2023 | Y2019 | Y2022 | Y2023 | 7 |
Performance optimization by focusing on direct sales
2023 %Revenue by Channel of Sales
2023vs2022
4ppt | 43% | International | |||||||||
(BSP Agents & Interline + Codeshare) | |||||||||||
5ppt | 26% | Web & App | |||||||||
Direct Connect | |||||||||||
2ppt | 18% | ||||||||||
Top 3 | |||||||||||
1ppt | 13% | Others | Destinations | ||||||||
(Owned, Non-BSP & GSA) | 1. | Germany | |||||||||
2. | UK | ||||||||||
3. | France 9% |
2023 %Revenue by Point of Sales (Regions)
9%
Others
(4% The
Americas)
20%14%
Europe & | Thailand |
Middle East | |
of Total | |
Passenger Revenue |
44% | 13% | ||||||
2023 Codeshare | Asia & | ||||||
Direct Connect | Australasia | ||||||
(excl. TH) | |||||||
Web & App | |||||||
Total | |||||||
28 | +2 Partners in 2023 | Top 5 Codeshare Partners | of Total | Top 3 | |||
Passenger Revenue | 6% Destinations | ||||||
by Passenger Revenue | 1. | Australia | |||||
Codeshare partners | 2. | Vietnam | |||||
70+ | 3. | Cambodia | |||||
Interline partners | Singapore | Air India | |||||
Airlines | Thai Airways Emirates Qatar EVA Air Qantas | 12% | of Total | ||||
Codeshare | Interline | Passenger Revenue | |||||
8
Booking pattern has been shorten despite of demand growth
Samui routes represented 63% of total Advanced Booking 2024
Advanced Booking in 2024 showed 14% growth comparing to 2023
Route Group | %Proportion of |
Advanced Booking 2024 | |
Samui | 63% |
CLMV | 8% |
Domestic | 28% |
International | 1% |
TOTAL | 100% |
Data as of 26 February 2024
Accumulated Passenger Volume | |||||||||||||||||||||||||||||||||||
Flown + Advanced Booking 2023 vs 2024 | |||||||||||||||||||||||||||||||||||
900,000 | 900,000 | ||||||||||||||||||||||||||||||||||
814,768 | |||||||||||||||||||||||||||||||||||
800,000 | 800,000 | ||||||||||||||||||||||||||||||||||
700,000 | 700,000 | ||||||||||||||||||||||||||||||||||
714,132 | |||||||||||||||||||||||||||||||||||
600,000 | 600,000 | ||||||||||||||||||||||||||||||||||
500,000 | 500,000 | ||||||||||||||||||||||||||||||||||
400,000 | 400,000 | ||||||||||||||||||||||||||||||||||
300,000 | 300,000 | ||||||||||||||||||||||||||||||||||
200,000 | 200,000 | ||||||||||||||||||||||||||||||||||
100,000 | 100,000 | ||||||||||||||||||||||||||||||||||
- | - | ||||||||||||||||||||||||||||||||||
(Un-Audited) | Feb (Est.) | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||||||||||||||||||||||||
Jan | 2023 (A) & 2024 Un-Audited + Estimated | 2023 | 2024 |
9
Focusing on Samui, followed by Domestic to serve travel demand
20 Destinations
12 Domestic | 8 International
23 Routes | 17 Domestic | 6 International
Chengdu | Chongqing | ||
Hong Kong | |||
Chiang Mai | Luang Prabang | ||
Mae Hong Son | Lampang | ||
Sukhothai | |||
Bangkok | |||
(Suvarnabhumi / Don Mueang) | U-Tapao Siem Reap | ||
Trat | Phnom Penh | ||
Samui | |||
Phuket | Krabi | Present destinations | |
Maldives | Had Yai | ||
Resumed destinations
Singapore
International 1%
Domestic
33%
2023
Flight Samui
54%
%Proportion
CLMV | Resumed |
12% | routes |
Bangkok-Maldives | Samui-Hong Kong |
Started Sep 2023 | Started Jul 23 |
(4 flights weekly) | (3 flights weekly) |
Samui-Chongqing
Samui-Chengdu
Started Jan 24
(AVG 2-3 flights weekly)
New
routes
Lampang-Mae Hong Son
Started Aug 2023 (3 flights weekly)
Samui-Don Mueang
Start Oct 2023 (3 flights daily)
Data as of December 2023 | 10 |
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Disclaimer
Bangkok Airways pcl published this content on 04 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 March 2024 10:48:04 UTC.