Driven by the new school year and the rebound in tourism, BTS Group Holdings said that BTS lines are expected to return to pre-pandemic levels of traffic very soon.
Mr. Surayut Thavikulwat, the company’s chief financial officer, said the evolution is particularly noticeable since May 17, when schools reopened, as many users have chosen to use BTS public transport lines to avoid traffic jams.
Mr. Surayut added that the increase of international tourists since the reopening of the country last month has also contributed to this growth.
According to Mr. Surayut Thavikulwat, last week the number of travelers reached more than 70% of the pre-pandemic level. He believes the trend will likely continue in the second half of this year when Covid-19 will be declared endemic. In fiscal year 2021, which ended in March 2022, BTS Group Holdings recorded operating revenue of 31.1 billion baht and net profit of 3.8 billion baht, down 26% and 16% respectively from the previous year. However, earnings before interest, taxes, depreciation, and amortization increased to 31.4% in the current year from 25.2% in the previous year.