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Bangkok Airways 2021 losses widen to US$263.5 million
February 28th 2022
Bangkok Airway has reported a net loss of 8.5 billion baht (US$263.5 million) for the 12 months to December 31, from a net loss of 5.3 billion baht in the same months in 2020. Read More » Revenue collapsed by 44.5%, to 5.7 billion baht, the airline said in a regulatory filing to the Stock Exchange of Thailand (SET). Despite the larger loss, the overall global aviation industry in 2021 had "improved compared with the previous year despite disruption from the Omicron variant of COVID-19 during high season", the carrier said. The SET filing noted the launch of quarantine-free schemes in Thailand in 2021 such as Sandbox in Phuket, but said “overall tourism growth remained low as the outbreak situation in Thailand and abroad remained uncertain. Also, international travel restrictions in many countries remained in place. In addition, tourists are concerned about the spread of the Omicron variant,” it said.
