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Nok Air announces US$38 billion loss for calendar 2021
October 13th 2022
Thailand-based LCC, Nok Air, has reported a net loss of 1.4 billion baht (US$38 million) for the 12 months to December 31, 2021 compared with a net loss of 8 billion baht in the previous year. Read More » Revenue declined 5.6%, to 6.4 billion baht, Nok Air said in a regulatory filing to the Stock Exchange of Thailand. Revenue was boosted by a 4 billion baht gain booked for its debt restructuring, the LCC added. Passenger revenue collapsed 66%, to 2 billion baht. Total costs were 51.5% lower, at 7.8 billion baht. Passenger demand increased after the government eased travel restrictions in the fourth quarter of 2021, Nok Air said, and added it had boosted frequencies on existing routes and opened destinations in response to market conditions. The LCC cautioned routes and frequencies had not yet returned to normal. The release of Nok Air's 2021 full-year financial accounts was delayed as the airline progressed through a still to be completed corporate restructuring.
