opportunity day 1q-2021 · 2021. 5. 25. · lease aircraft upon contract expiry adjust route...
TRANSCRIPT
Opportunity Day 1Q-2021
24 May 2021
1
COVID-19 has been an unprecedented shock
New COVID-19 cases surge and still high in many regions
2
Source: IATA,
Economic using data
from IATA Statistics
Source: IATA,
COVID19 Update on
air cargo and air travel
markets in March,
published in May 2021
Expected herding immunity in North America and Europe in 4Q20213
Source: IATA Outlook for
the global airline industry,
April 2021 update
Source: Ourworldindata.org
Vaccine progress especially in North America and Europe
Airline & Airport
Key Statistics & Performance 1Q 2021
5
Remark: Exclude interest income that reclassified as financial income
4Q 2020 vs 4Q 2020 1Q 2020 vs 1Q 2020
Total Revenue (MB) 1,357 2,031 (33%) 6,400 (79%)
Total Expense (MB) 2,034 2,260 (10%) 6,684 (70%)
Net Profit/Loss (MB) (757) (410) (85%) (339) (123%)
Passenger Carried ('000) 152 345 (56%) 1,324 (89%)
RPK (MM Kilometers) 92 210 (56%) 932 (90%)
ASK (MM Kilometers) 156 319 (51%) 1,501 (90%)
% Load Factor 59% 66% (7ppt) 62% (3ppt)
Flight 2,464 4,631 (47%) 17,066 (86%)
No. of Route 10 10 - 37 (27)
1Q 2021Compared with
*
Tickets sold directly by BA, represented 88%
6
Channel-Of-Sales (%)
Passenger Revenue (MB)
% Proportion of Passenger Revenue by COS
2% Others
56% bangkokair.com
BSP Agents 9%
Codeshare & Interline 1%
Direct Connect 13%
38ppt
13ppt
9ppt
30%
28%3%ppt
1771 Call Center 19%
4,443
78406 6312,250
55 300 320 160
2,193
23 106 311 125
1Q2020 2Q2020 3Q2020 4Q2020 1Q2021
Samui Others
286
CLMV 875
Domestic 1,190
International 128
Plan to retire existing OL upon contract expiry.
Fuel Hedging
No hedging position due to uncertain flight plan.
Fleet & Fuel Updates
7
39
36
30
Fleet
Aircraft Type 1Q2021 Y2021E Y2022E
Airbus A320 9 9 4
Airbus A319 15 14 13
ATR72-500 2 - -
ATR72-600 13 13 13
TOTAL 39 36 30
Planned Route Network
9
Hanoi
Chiang Mai
Phuket
Lampang
Current Network
4 Domestic routes(as of May 2021)
Hanoi
Chiang Mai
Had Yai
PhuketKrabi
Lampang
Future Network Plan (Winter 2021/2022)
Tier 1: 14 Domestic & 3 International*
U-Tapao
Hong Kong
Phnom Penh
Singapore
Mae Sot
*International routes
tentatively starts operation in Winter 2021/22
Future Network Plan
subjected to COVID-19 situation & the relief
measures
Our 3 Airports
9
Samui Airport1Q2021
AVG Flights/Day: 5 (-30 Flights)
No. of Passenger: 73,485 (-87%)
Trat Airport1Q2021
AVG Flight/Day: 1 (-2 Flights)
No. of Passenger: 2,854 (-91%)
Sukhothai Airport1Q2021
AVG Flight/Day: 1 (-2 Flights)
No. of Passenger: 4,722 (-48%)
U-Tapao Airport & Eastern Airport City Project
Planned to submit Airport Master Plan in June 2021
Selected International Design Architect : SOM
New development updated
10
Cargo Terminal Buildings
Airport CityPassenger Terminal Building
MMTH
Midfield GTC
Midfield Terminal
Airport Related Services
Bangkok Air Catering
(BAC)
90% holds by BA
0.2 Mil. Meals uplifted -88%
2,153 Meals per day -88%
BFS Ground
99% holds by BA
8,467 Flights serviced -53%
IATA certified
BFS Cargo
49% holds by BA
127,256 Tonnage serviced +26%
IATA certified
1Q2021
BFS Cargo gained more demand
12
244
9 1241 2820
(54) (84) (33) (46)(1)
(75) (105) (54) (66)1Q2020 2Q2020 3Q2020 4Q2020 1Q2021
667
130248
316 280
119
(293)
105 102 96 69
(299)
76 73 69
1Q2020 2Q2020 3Q2020 4Q2020 1Q2021
486
388428
510 535
254 242 213
289 309
181 175 151212 229
1Q2020 2Q2020 3Q2020 4Q2020 1Q2021
Financial Highlights
Unit: MB
Revenue
Selected Expenses
Financial highlights 1Q2021
15
4,450
107 392 640 302
994
177286 392
356
956
760 2251,021
700
1Q2020 2Q2020 3Q2020 4Q2020 1Q2021
Others
Sales & Services
Passenger
586 581 574 563 459
773428 335 302 288
682
482294 287
207
1,112
21
87 17769
690
29
62 14163
1Q2020 2Q2020 3Q2020 4Q2020 1Q2021
Passenger Service
Fuel
AC Maintenance
Salary & Wages
Depreciation &Amortization
1,357
2,053
9031,044
6,400
Unit: MB
Seeking for government
support
Maintain liquidity
Reduce operating
lease aircraft upon contract
expiry
Adjust route network to match with
travel demands
Reduction of airport related
charges
Lease & Maintenance
Reduction Continue
Cost Saving
Measurement
in 2021
Seek for additional credit line
Postpone/cancel major CapEX
Extension of loan repayment
155 MB
2021 Return 1 aircraft
2022 Return 6 aircraft
Fleet management to
lower maintenance &
MRF
Deferral of lease
payment
Waive of Minimum
guarantee & 50% discount
rental fee
Extension of Excise Tax at 0.20
THB/Liter until 31 December 2021
Continue cost saving plan in 2021
16
Continue salary & benefit
reduction
Focus on Samui routes
Number
of flights
13,678Flights
in 2021E
ASK
915Million
ASK
In 2021E
Number
of Pax
0.90Million
In 2021E
Pax
Revenue
1,656MB
In 2021E
%Load
Factor
63%
In 2021E
Outlook 2021
17
Thank You
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 contains projections and forward-looking statements that reflect the company’s current views with respect to future events and financial
performance.
These views are based on assumptions subject to various risks. No assurance can be given that future events will occur, that projections will be achieved, or that the
company’s assumptions are correct.
Actual results may differ materially
from those projected.
Disclaimer
Contact: [email protected]
Boutique Airline
• Lounges for all passengers
• Meals on board
• Unique network covering 25+
tourist destinations
• Remark: adjusted services in compliance to CAAT's
directive orders.
Own & Operate 3 Resort Style Airports
• Samui
• Sukhothai
• Trat
3 Airport Related Services at BKK Airport
• Catering Service
• Ramp & Ground Service
• Cargo Terminal
Strategic Investment
• 6.50% in BDMS
• 30.03% in SPF
• 9.99% in BAFS
• 7.00% in FPT (Non-Listed)
• MKT Value of Listed Securities = 23,927 MB as at 31 March 2021
Duty Free Business at
Samui Airport
U-Tapao Airport and Eastern Airport City project
Selected International Design Architect : SOM
Appendix: 4 key components to support sustainable growth
19
19
Appendix: COVID-19 concerned