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Travel for Thailand Travel for Thailand รายงานประจำป ONE REPORT 2563 2020 บริษัท เอเชีย เอวิเอชั่น จำกัด (มหาชน) ASIA AVIATION PUBLIC COMPANY LIMITED (GRIROUTE 102-2, 102-6) NETWORK Chiang Rai Pai Nan Chiang Mai Chiang Khan Nakhon Phanom Sukhothai Udon Thani Loei 98routes Phitsanulok Sakon Nakhon Domestic International Khon Kaen Mukdahan 40 58 Kalasin Mahasarakham Roi Et Ubon Ratchathani Cover Bangkok Buri Ram Surin Cities Pattaya Domestic67International U-Tapao 25 42 Rayong Cities Cities Tao Chumphon AirAsia Thailand Domestic Route Pha Ngan & Transfer Service Samui Ranong Thai AirAsia Hub in Thailand Surat Thani Don Mueang Airport Patong Nakhon Si Thammarat Suvarnabhumi Airport Phuket Airport Phuket Krabi Khanom Trang Chiang Mai Airport Phi Phi Hat Yai International Route Lanta Domestic Route City Transfer Narathiwat Island Transfer Lipe China Myanmar Chiang Rai India Macao Pacific Ocean Chiang Mai Laos Taiwan Hong Kong Vietnam Bangkok Phuket Cambodia Krabi Hat Yai Malaysia Indian Ocean Singapore Maldives * Before the International flight suspension Indonesia CONTENT Overview 12 14 16 18 Message from Message from Message from Board of Directors Chairman Executive Chief Executive and Management of the Board Chairman Officer Team 24 26 28 Public Relations Investor Relations Key Milestones Activities 2020 Activites 2020 Business Overview and Performance 30 32 42 46 Company Policy Nature of Business Industry Outlook Securities and and Business and Competition Shareholders Overview 51 70 114 118 Risk Management Sustainable Management Legal Disputation Business Discussions and Developement Analysis Corporate Governance 125 143 163 176 Corporate Governance Report and Results Internal Control Governance Structure of Major and Related Party Policy Performance Transactions on the Corporate Governance Financial Information 199 200 270 275 Report of Directors Financial GRI Content Index General and Relating to Statements Other Information Responsibility for Financial Statements 4 Key Financial And Operating Data (GRIKEY 102-7, FINANCIAL 102-8) AND OPERATING DATA Allstars Passenger Average Carried Stage Length 5,566Persons Million KM 9.5 804Per Flight Aircraft Utilisation Load Factor 7.4Flight Hours Per Day Per Aircraft Aircraft 62 75 % COST BREAKDOWN OF 2020 % % 4 Others 5Finance Cost % On-time 5Ramp & Airport Operations Performance % % 96 % 6SG & A 27Fuel % 11Repair & Maintenance Ancillary Revenues % 2,285Million Baht % 24Depreciation 18 Staff and Amortisation Key Financial And Operating Data 5 Equity attributable Total Revenues Loss for the year Total Assets Total Liabilities to owner of the Company 16,237 4,764 67,978 50,618 14,266 Million Baht Million Baht Million Baht Million Baht Million Baht FINANCIAL HIGHLIGHTS (Unit: Million Baht) (1) (1) For the year ended 31 December 2018 2019 2020 Statement of Comprehensive Income Revenues from sales and services 38,905 40,181 13,634 Profit (loss) for the year 601 (122) (7,551) Profit (loss) attributable to owners of the Company 70 (474) (4,764) Statement of Financial Position Total assets 61,747 62,903 67,978 Total liabilities 33,124 35,214 50,618 Equity attributable to owners of the Company 20,455 19,944 14,266 Total equity 28,623 27,689 17,360 Statement of Cash Flows Net cash flows from (used in) operating activities 2,869 966 (898) Net cash flows from (used in) investing activities (1,733) (1,794) 12,064 Net cash flows from (used in) financing activities (2,288) 829 (14,031) Net increase (decrease) in cash and cash equivalents (1,152) 1 (2,865) Key Financial Ratios Net profit (loss) margin (%)(2) 0.2 (1.2) (34.9) Return on assets (%)(3) 0.1 (0.8) (7.3) Return on equity (%)(4) 0.3 (2.3) (27.9) Basic earnings (loss) per share (Baht) 0.0144 (0.0977) (0.9823) Remark (1) Reclassifications of the comprehensive income statements (2) Net profit margin = Profit attributable to owners of the company / Revenues from sales and services (3) Return on assets = Profit attributable to owners of the company / Total assets (Average) (4) Return on equity = Profit attributable to owners of the company / Equity attributable to owners of the company (Average) STOCK INFORMATION Baht Asia Aviation Public Company Limited 3 2 2.36As of December 30, 2020 1 1.00-3.0652 weeks’ range 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 6 2020 Highlighted Accolades (GRI2020 102-12) HIGHLIGHTED ACCOLADES SHA IOSA Amazing Thailand Safety and Health Administration (SHA) Operational Safety Audit (IOSA) by the International Air Transportation (IATA) The Children and Youth Council World Travel Awards of Thailand NACC Awards 2020 (WTA) 2020 The 2020 Thailand National Chorsaard (Integrity Bouquet) Asia's Leading Low-Cost Airline Youth Day Royal Trophy : The Private Award : Advertising 2020 & Asia’s Leading Organisation with Exemplary by Office of the National Low-Cost Airline Dedication & Support Anti-Corruption Commission Cabin Crew 2020 on Children and Youth Affairs (NACC) 2020 Highlighted Accolades 7 Thailand Sustainable IR Magazine Awards 2020 Investment (THSI) 2020 AAV listed on THSI 2020 Best annual report (Small Cap) of South East Asia BrandAge 2020 Thailand’s AFM Asia Marketing Most Admired Brand Excellence Awards Regional Winner For Asia Marketing’s 3.0 Honorable Awards Thailand’s Most Admired Award for 2020 Brand : Low Cost Airline Promotions The leading low fare airline with year-round promotions for every occasion First time ever! Unlimited Pass for domestic flights supports tourism Travel for Thailand Largest domestic network with regional connections Stimulating tourism nationwide Fly With Confidence AirAsia puts Health and Safety first For the confidence of all passengers and staff In This Together Overcoming every crisis together Caring for all stakeholders 12 Message from the Chaiman of the Board Message from the Chaiman of the Board 13 (GRIMESSAGE 102-14) FROM THE CHAIRMAN OF THE BOARD We have not lost hope and is not retreating, but we are even more determined to prepare our personnel and systems for full operation, to be ready to take action as soon as the situations in Thailand and the world return to normal. I am an economist and I always remember that In my role as Chairman of the Board, kindly allow when drafting a plan, we must assume that if all me to assure all of our shareholders and stakeholders things are being equal and unchanged, then how that we have not lost hope and is not retreating, should our actions be plotted to bring about positive but we are even more determined to prepare our results for our own good. personnel and systems for full operation, to be ready to take action as soon as the situations in Thailand In this regard, the likelihood of achieving planned and the world return to normal. results is however, almost non-existent, because in the real world nothing is static and all factors are We are confident that the world still needs air travel in constant flux. and still believe in our motto "Everyone Can Fly". We see this halt as a temporary situation, similar Over the past year up until today, nontheless, it is to pressing ‘Pause & Play’ buttons. the first time that we have experienced this apparent stillness. No assumption is needed. We are hopeful that our shareholders and stakeholders will continue to support us and treat each other the It is thus an opportune moment (one that will not way we have always been. likely manifest again) for AAV to take advantage of this state of stillness to draw its plans with the utmost accuracy and to ensure the most benefit for its shareholders and all its stakeholders. Mr. Vichate Tantiwanich Chairman of the Board 14 Message from the Executive Chairman Message from the Executive Chairman 15 (GRIMESSAGE 102-14) FROM THE EXECUTIVE CHAIRMAN I wish to thank our wonderful team, all the executives, staff and stakeholders at Thai AirAsia and Asia Aviation Plc. for being together in this trying path. In the past 17 years that Thai AirAsia has been Our most important effort nonetheless was to secure I believe this crisis will make us even in service, the COVID-19 crisis marks the most soft loans from the Ministry of Finance. All seven stronger and provide us ever severe situation the company has ever faced. In 2020, Thai carriers commenced with this request from the we were forced to be in the state of “limbo” to keep onset of COVID-19 in March of 2020 through to the valuable lessons, and for us ourselves afloat, coupled with efficient capital emergence of the second wave in early 2021. News management to conserve cashflow. We needed to reports will show that through the entire 2020, Thai to be ready to reap our rewards be enthusiastic to adapt strategies and operations to AirAsia adjusted its plans in accordance with state in the coming future. the ever-changing circumstances, indeed a difficult and policies and closely followed up on the request while challenging task. doing its best to manage the situation from within. Due to COVID-19 in the past year, we had to employ The tourism and transport industries are often the every approach for our survival, including sacrifices first to be impacted by crisis and while we are confident Mr. Tassapon Bijleveld by executives and staff, who voluntarily took pay cuts in our experience and resilience, as well as our defensive Executive Chairman and both short and long term leave to contain capital and proactive planning, we are not underestimating costs. We also had to elevate our health and safety the situation and affirm that all of our actions over protocols to build confidence in travel while seeking the past year have been to ensure that once the out new business opportunities and revenue streams. opportunity returns, we will be ready to serve travellers and tourists and play our role in stimulating the Our policy strategies emphasised collaboration with nation’s economy.
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