News
Nok Air reports US$80.7 million loss
December 2nd 2021
Nok Air has reported a 2.7 billion baht (US$80.7 million) net loss for the six months to June 30, slumping further into the red from a net loss of 2.5 billion baht in the same months in 2020. Read More » Revenue fell 64%, to 1.2 billion baht, Nok Air said in a regulatory filing to the Stock Exchange of Thailand, but total expenses were 28% lower, at 3.9 billion baht. The LCC expects to manage operations according to its business rehabilitation plan by the final quarter of 2021. The carrier’s rescue strategy was approved by Thailand's Central Bankruptcy Court in September.
Survival initiatives include staff reductions, lowering leasing costs, improving operational efficiency, selling off non-core assets and boosting revenue with measures such as boosting cargo transportation, among other initiatives. Nok Air's financial results showed the LCC flew 670,000 passengers in the first half of calendar 2021, a 68% reduction from 2.1 million passengers in the same months in 2020.
