UNOFFICIAL TRANSLATION Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. Notification of the Capital Market

second quarter, the Company received The Most Punctual Airline Asia Pacific Award (2nd place) from OAG which is the world’s leading provider of travel data and insight. Bangkok Airways is the only Thai

Airways Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the year ended 31 December 2018 Executive Summary The Thai economy in the last quarter in 2018 continued to grow

reduction of 3.0% Q-o-Q and 9.5% Y-o-Y, while sales revenue in USD terms grew by 1.0% Q-o-Q but declined by 8.9% Y-o-Y. The lower revenue recognition in Baht terms was due to the strengthening Thai baht

, while consignment usage was lower at Bt760 million (Table 3). The Y-o-Y decrease in revenue was due mainly to a 14.8% decrease in sales volume (Table 4), and due partly to the strengthening of the Thai

). Changes in foreign currency exchange rates had a minor impact on the revenue recognition in Thai baht terms in the current quarter (Table 1). To minimize the impact of COVID-19 in the second quarter of 2020

Thai economy in the third quarter of 2018 had a positive trend in line with the expansion of world economy. The continuous growth from export sector and the implementation of advanced technology in

aviation industry of 2017, a growth in passenger traffic was supported by 7.6 percent increase in revenue passenger kilometers (RPK) where airlines in Asia-Pacific achieved highest growth at 10.1 percent

Phayathai in July. The Company focuses on selling products made from Thai fruits and has received overwhelming feedbacks from health-conscious customers. This has resulted in the opening and the operation of

in conjunction with the consolidated financial statements and financial statements notes. If not defined otherwise, all financial information presented in this document are in Thai Baht. The company