A report has been filed by Bangkok Airways and smaller Thai carriers on losses in the second quarter while still recovering from a decrease in tourists from China and the strong baht.
Bangkok Airways president said on Wednesday that the carrier’s revenue dropped 4.2% due to slow growth in international tourist arrivals and the strengthening of the baht.
Bangkok Airways said that the loss in the second quarter totalled about 698 million baht compared to the baht loss of 82 million during the same time the previous year.
In June, all incoming tourists in Thailand increased with only 0.89% from the previous year. However, the Chinese arrivals, the largest tourist source in Thailand reducing to about 7.1%.
Thai run media gave a report stating that the loss for April-June was 6.8 billion baht, which is about 220 million USD — reported that the slow-paced growth in tourism because of competition.
Also, the Thai baht which is Asia best-performing currency, which I think is one of the main factors there are fewer tourists.