Thai AirAsia (TAA) and Bangkok Airways showed different earnings patterns last year.
The low-cost carrier saw its net profit for the whole year jumping 71% to 3.4 billion baht while the latter, a full-service airline, had a year-on-year drop to 1.83 billion baht from 1.84 billion.
TAA's full-year earnings were dragged down by an 85% plunge in fourth quarter net profit caused by impacts arising from the zero-dollar Chinese tour scams clampdown and the mourning for the late King Bhumibol Adulyadej.
Thailand's largest budget carrier TAA made 79.6 million baht in net profit in the 2016 October to December period, compared with 520 million recorded in the same period of 2015.
Bangkok Airways' 2016 earnings were hit by 506 million baht in additional tax payments, president Puttipong Prasarttong-Osoth explained yesterday.
SET-listed Bangkok Airways' combined 2016 revenue grew 7.5% to 26.8 billion baht as the airline carried 9.5% more passengers, recording 5.6 million in total.
Meanwhile, TAA recorded a 10% growth in revenue for 2016 to reach 32.4 billion baht. Fourth-quarter revenue fell 1% to 7.54 billion baht.
TAA chief executive Tassapon Bijleveld yesterday said that despite the impact seen in the last quarter, the airline finished the year with the highest revenue and net profit in its 13-year history.
Both TAA and Bangkok Airways achieved higher load factors last year -- 84% for the former (up by 3 percentage points) and 69% for the latter (up 3 pp).
Bangkok Airways carried 9.5% more passengers in 2016 to 5.6 million, while TAA raised its passenger tally to 17.2 million, 16% more, which was higher than the 12% increase in capacity.
SET-listed Asia Aviation Plc, the major shareholder of TAA, declared a net profit of 1.86 billion baht for 2016, up by 791 million from a year ago.
Mr Puttipong said Bangkok Airways aims to raise passenger numbers carried this year by 12-13% while raising load factor to 72%.
Mr Tassapon at TAA said the airline seeks to boost passenger volumes to 19.5 million, with an expected average load factor of 84%.