Tourists arrive in groups at Suvarnabhumi Airport on the outskirts of Bangkok.
Average airfares continued to rise in the third quarter of this year, driven by strong travel demand despite the slow season.
Thai AirAsia reported a 22% year-on-year increase in airfares in the third quarter, while Bangkok Airways recorded a 15% increase.
Thai AirAsia’s average price during the period rose to 1,720 baht from 1,404 baht in the same period last year. Fares also exceeded the 2019 level of 1,457 baht.
Thai AirAsia CEO Santisuk Kronchaiya said the airline has increased airfares by 15-20% this quarter to accommodate the high tourist season as the company prioritizes restoring profitability. said.
Thai AirAsia carried 4.56 million passengers in the third quarter, 86% of 2019 levels, with an average load factor of 90%.
This enabled major shareholder Asia Aviation Plc (AAV) to secure a revenue of 9.89 billion baht for the quarter.
AAV recorded its fourth consecutive quarter of positive earnings before interest, tax, depreciation and amortization (EBITDA), reaching 389 million baht in the third quarter.
The company reported a loss of 1.69 billion baht, down from 4 billion baht in the same period last year, mainly due to unrealized losses due to the weaker baht.
Santisk said visa exemptions for Chinese, Kazakh, Indian and Taiwanese visitors should boost arrivals at least until the end of the first quarter of next year.
He said lower fuel prices and new domestic excise duties should provide a tailwind for the industry.
Thai AirAsia carried 13.8 million passengers in the first nine months and is targeting 20 million passengers this year with an average load factor of 87% by utilizing a fleet of 54 aircraft, Santisuk said. Stated.
Bangkok Airways reported that its average airfare from July to September rose 15% year-on-year to 3,803 baht.
Bangkok Airways President Putipong Prasathorn Osos said increased passenger numbers and higher airfares improved passenger revenue by 39.8% in the third quarter.
The company reported EBITDA of 1.4 billion baht, an increase of 182% year-on-year.
Bangkok Airways carried 967,800 passengers in the third quarter of this year and 3 million passengers in the first nine months.
The airline’s load factor for the third quarter was 78%.
Bangkok Airways has restarted some routes, including Samui-Hong Kong, Lampang-Mae Hong Son, and Bangkok-Maldives.
As of September, the company had 24 aircraft in its fleet, compared to 35 at the end of last year.