Asia Aviation Public Company Limited (SET: AAV) announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
(6,647.486) | (4,764.092) |
| Earning Per Share (Baht) | (1.2985) | (0.9823) |
| % Change | (-40%) | |
AAV reported a net loss for the fiscal year 2021 amounted to THB6,647.5 million compared to the net loss of THB4,764.1 million from the previous year. Total revenues were THB4,508.2 million, which decreased by 72% compared to the same period last year. Meanwhile, total expenses were THB16,358.9 million, declined by 31% from the year ended 2020.
Revenues from sales and services, amounted toTHB3,828.5 million, decreased by 72% compared to the same period last year due to the COVID-19 pandemic in late December 2020 and mid-April 2021. All domestic flights were temporarily suspended during the third quarter after the Civil Aviation Authority of Thailand declared a restriction on carriers transporting passengers between Maximum and Strict Control Zones (Red Zones).
Positively, AAV resumed international flights to the Maldives and Cambodia in late 2021 on the back of the government’s easing travel restrictions along with the policy of opening the country through the Test & Go scheme.
However, temporary suspension of the Test & Go Programme had now been put in place by the Thai government from December 22, 2021 after the arrival of the Omicron variant, adversely affecting AAV’s plan to resume its international flights. As a result, the passenger carried in2021 recorded at 2.93 million people or down by 69% from 2020, and the load factor for 2021 was posted at 68% or down by 7 percentage points from the same period last year.
