On Tuesday at 10:47 AM (Bangkok time), the share price of Bangkok Airways Public Company Limited (SET: BA) surged by 4.98% or THB 1.00 to THB 21.10, with a trading value of THB 62.52 million.
Airports of Thailand Public Company Limited (SET: AOT) added 1.73% oro THB 0.75 to THB 44.00, with a trading value of THB 975.30 million.
Asia Aviation Public Company Limited (SET: AAV) jumped by 6.67% or THB 0.14 to THB 2.24, with a trading value of THB 64.66 million.
Central Plaza Hotel Public Company Limited (SET: CENTEL) rose by 5.22% or THB 1.50 to THB 30.25, with a trading value of THB 54.26 million.
The Erawan Group Public Company Limited (SET: ERW) grew by 1.24% or THB 0.04 to THB 3.26, with a trading value of THB 18.74 million.
Meanwhile, Minor International Public Company Limited (SET: MINT) remains flat in today’s session after a strong gain of nearly 9% in the past four days.
Krungsri Securities (KSS) noted that Thai tourism equities received a favorable boost from the series ‘The White Lotus,’ resulting in increased hotel reservations on Samui Island during the low season period. This trend proved advantageous for BA, the primary airline serving Samui, presenting potential upside prospects for its projected profits in 2025.
The analyst anticipated that BA would announce a normalized profit of THB 499 million in the fourth quarter of 2024, bouncing back from a loss of THB 480 million in the same period a year earlier. This progress can be attributed to the following factors:
- Revenue of THB 5,611 million (+11% year-on-year, -5% quarter-on-quarter), with the yearly rise fueled by improved aviation metrics, including a passenger volume of 1.03 million (+7% year-on-year, -2% quarter-on-quarter) and an average ticket price of THB 4,050 (+3% year-on-year, -4% quarter-on-quarter).
- A gross profit margin of 27.1% (in comparison to 4Q23/3Q24 at 10.5%/27.2%), seeing a year-on-year boost due to a decrease in oil prices (accounting for 26% of airline business expenses) by -23% year-on-year and -4% quarter-on-quarter, along with an uptick in passenger load factor to 79% (contrasted with 4Q23 and 3Q24 figures at 77%/81%).
Nevertheless, the normalized profit is predicted to experience a 42% decrease quarter-on-quarter due to seasonal factors, with the preceding quarter representing the peak season for Samui Island.
As a result, the analyst gives BA a 2025 target price of THB 28.75 per share.
