News
Nok Air recertified by CAAT
June 30th 2017
Nok Air has been recertified by the Civil Aviation Authority of Thailand (CAAT), becoming the sixth Thai carrier to have its air operator certificate reissued after Bangkok Airways, Thai Airways International, Thai AirAsia, Thai AirAsia X and NokScoot. Read More »
“This is a significant step forward to removing any international red flags that were placed on Thai-registered airlines to operate worldwide," said Nok Air CEO, Patee Sarasin. "We will continue to further develop and enhance our flight operations, training programs, maintenance arrangements and cost savings as we move forward. Most important of all, the continued safety of our passengers remains, as always, a top priority."
The International Civil Aviation Organization (ICAO) downgraded Thailand’s aviation safety rating in 2015 after identifying significant safety concerns.
Nok Air, Thailand’s second-largest low-cost carrier (LCC) after Thai AirAsia, has posted a 3.28 billion baht (US$94 million) 2016 fiscal year loss, widened from a record loss of 1.66 billion baht in 2015. Nok lost passengers to its competitors last year and its costs are out of control. Last month, Nok parent THAI refused to acquire additional shares in Nok, diluting its stake from 39.2% to 21.6%.
THAI, itself still reeling from years of unprofitability, said its cash-starved situation meant it would not be “the right time” to increase its investment in Nok Air.
Nevertheless, THAI remains Nok Air’s largest shareholder followed by private investors Thaveechat Chulangkul and Nuttapol Chulangkul with stakes of 15.6% and 13.3%, respectively. Nok Air CEO, Sarasin, owns 1.9% of the airline after the new share issue.
