Bangkok Airways : Opportunity Day FY2023

Bangkok Airways

Y2023 Opportunity Day

15 March 2023

Disclaimer

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 may contain projections and forward-looking statements that reflect the company's current views concerning future events and financial performance. These views are based on assumptions subject to various associated risks.

There is no assurance that future events will occur, that projections will be achieved, or that the company's assumptions are correct. The actual results may differ materially from those projected.

Neither the company nor any of its directors, employees, or representatives are bearing any liability (including the liability to any person because of negligence or misstatement) from any statement, opinion, information, or matter (express or implied) arising out of, contained in or derived from or any

omission from the presentation, except liability under a statute that cannot be excluded.

2

BA's Pride

7 Consecutive years

• World's Best Regional Airline

• Best Regional Airline in Asia

3

4 Business groups by BA

Boutique Airline

• Unique network to serve both tourism and business desires
• • Lounge for all passengers
  • • Meals on board

Remark: adjusted services in compliance to CAAT's directive orders.

3 Airport Related Services at BKK Airport

• Catering Service

• Ramp & Ground Service

4

• Cargo Terminal

Own & Operate

3 Resort Style Airports

• Samui

• Sukhothai

• Trat

U-Tapao Airport and Eastern

Airport City project

Conceptual design phase

Plan & layout is subjected to change to comply with Airport Master Plan

Strategic Investments

• 4.62% in BDMS
• 9.99% in BAFS
• 7.00% in FPT (Non-Listed)

MKT Value of Listed Securities

21,696 MB

as at 31 December 2023

4

Potential International demand growth from EU

EU-Asia	International traffic achieved great recovery in
2023 with 88.6% of 2019

Asia Pacific showed the highest yearly growth at the end of 2023, with RPKs increasing 56.9% YoY

Europe performed monthly recovery in

International traffic by 0.8% exceeded from the pre-

COVID level

Data as of December 2023	5

IVA to Thailand resumed 67% recovery to pre-COVID level

		International Tourist Arrival to Thailand							2023 BA's Passenger vs IVA to TH (EU & Asia)
		Unit: Million Passengers															Unit: Million Passengers
4.50															3.93 Total of Year	2.00
		3.72
4.00	3.60												39.8		1.80															1.67
				3.47							3.47
								3.33		3.36	3.26														1.51	1.48
3.50					3.20							1.60
					3.05				3.04											1.40
																								1.38
											2.90	28.2												1.30
3.00					2.73								1.40					1.21	1.22					1.27
									2.64
				2.49	2.47									1.14
					2.27											1.20
2.50				2.18		2.24				2.20	2.24				0.99
2.14	2.11				2.13					0.97
								11.1
						2.01									1.00															0.82
2.00													1.72
																	0.71
													1.26	1.47					0.80	0.68	0.61										0.66
1.50											1.19
							1.13							0.60
															2023 Top5 IVA & Ranking					0.43					0.39	0.38		0.43
									0.77				1.	Malaysia 16% -	Rank 1
1.00																0.28			0.31
												2.	China 13%	Rank 150.40						0.26
						0.52
0.50				0.21	0.29							3.	Korea 6%	Rank 4
0.13	0.15							4.	India 6%	Rank 20.20
														5.	Russia 5%	Rank 9	0.39	0.35	0.37	0.36	0.29	0.27	0.35	0.36	0.27	0.28	0.32	0.37
-
																		-
	Jan	Feb	Mar Apr May	Jun Jul	Aug	Sep	Oct Nov	Dec
					Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
								2019		2022		2023													BA		EU			Asia+Aus excl. Malaysia
			Supporting factors for IVA to TH growth was from Tourist Visa Exemption for 64		IVA from EU were likely to match with BA's Passenger trend

countries (China will apply from 1 March 2024 onwards)

0.80

0.70

0.60

0.50

0.40

0.30

0.20

0.10

-

6

Improving performance despite capacity constraint

Passengers

(Million)

34%

2%

1.46 0.94 0.97

4Q2019 4Q2022 4Q2023

9ppt

3ppt

32%

50%

5.86

3.97

2.65

Y2019 Y2022 Y2023

11ppt

3ppt

Flights

(Number)

34%

12%

17,489 10,244 11,459

4Q2019 4Q2022 4Q2023

		37%
70,810	50%
			44,774
		29,892

Y2019 Y2022 Y2023

52%

79%

79%

49%

Load Factor

76%

67%

76%

68%

Available Seat Kilometer

1,604

5%

(%)

(Million)

776 816

6,497	45%

2,164 3,136

4Q2019 4Q2022 4Q2023

13%

Y2019 Y2022 Y2023

22%

78%

19,028

4Q2019 4Q2022 4Q2023

51%

15%

Y2019 Y2022 Y2023

40%

18%

Passenger

Revenue (Million)

16%

4,369

3,280 3,810

14,906

8,361

Passenger Yield

(THB/RPK)

4.05

5.33

6.13

4.30

5.08

6.00

4Q2019

4Q2022

4Q2023

Y2019

Y2022

Y2023

4Q2019

4Q2022

4Q2023

Y2019

Y2022

Y2023

7

Performance optimization by focusing on direct sales

2023 %Revenue by Channel of Sales

2023vs2022

4ppt					43%	International
				(BSP Agents & Interline + Codeshare)
5ppt			26%		Web & App
			Direct Connect
2ppt	18%
								Top 3
1ppt	13%		Others			Destinations
	(Owned, Non-BSP & GSA)	1.	Germany
						2.	UK
						3.	France 9%

2023 %Revenue by Point of Sales (Regions)

9%

Others

(4% The

Americas)

20%14%

Europe &	Thailand
Middle East
of Total
Passenger Revenue

				44%	13%
2023 Codeshare				Asia &
			Direct Connect	Australasia
				(excl. TH)
				Web & App
Total
28	+2 Partners in 2023	Top 5 Codeshare Partners		of Total		Top 3
	Passenger Revenue	6% Destinations
by Passenger Revenue			1.	Australia
Codeshare partners						2.	Vietnam
70+						3.	Cambodia
Interline partners	Singapore	Air India
	Airlines		Thai Airways Emirates Qatar EVA Air Qantas	12%	of Total
	Codeshare	Interline		Passenger Revenue

8

Booking pattern has been shorten despite of demand growth

Samui routes represented 63% of total Advanced Booking 2024

Advanced Booking in 2024 showed 14% growth comparing to 2023

Route Group	%Proportion of
Advanced Booking 2024
Samui	63%
CLMV	8%
Domestic	28%
International	1%
TOTAL	100%

Data as of 26 February 2024

									Accumulated Passenger Volume
												Flown + Advanced Booking 2023 vs 2024
900,000																																	900,000
																																	814,768
800,000																																	800,000
700,000																																	700,000
																																	714,132
600,000																																	600,000
500,000																																	500,000
400,000																																	400,000
300,000																																	300,000
200,000																																	200,000
100,000																																	100,000
-																																			-
(Un-Audited)	Feb (Est.)	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Jan							Jan-Feb 2023 (A) vs 2024 (Un-Audited)	2023				2024

9

Focusing on Samui, followed by Domestic to serve travel demand

20 Destinations

12 Domestic | 8 International

23 Routes | 17 Domestic | 6 International

		Chengdu	Chongqing
			Hong Kong
	Chiang Mai	Luang Prabang
	Mae Hong Son	Lampang
		Sukhothai
	Bangkok
	(Suvarnabhumi / Don Mueang)	U-Tapao Siem Reap
		Trat	Phnom Penh
		Samui
	Phuket	Krabi	Present destinations
Maldives	Had Yai

Resumed destinations

Singapore

Internati onal 1%

Domesti

c 33%

2023

Flight Samui

54%

%Proportion

CLMV	Resumed
12%	routes
Bangkok-Maldives	Samui-Hong Kong
Started Sep 2023	Started Jul 23
(4 flights weekly)	(3 flights weekly)

Samui-Chongqing

Samui-Chengdu

Started Jan 24

(AVG 2-3 flights weekly)

New

routes

Lampang-Mae Hong Son

Started Aug 2023 (3 flights weekly)

Samui-Don Mueang

Start Oct 2023 (3 flights daily)

Data as of December 2023	10