Thailand's Nok Air records US$10.8m loss in Q1
Nok Air reported a Q1 net loss of THB379.9m (US$10.8m), reversed from net profit of THB55.6m in the year-ago period. Q1 revenue fell 2.04% to THB3.38b; operating costs for the quarter were THB3.55b, up 10.8% from the year-ago period. The LCC attributed increased costs to the rise of aircraft lease rental and ongoing maintenance costs from a recent fleet expansion. Additional pressure came from “domestic low-cost carriers still facing challenges from [local] price wars and oversupply.” The company also said the lower-than-expected results, and the revenue decrease, were “mainly due to flight frequency cuts [resulting in] a 7.1% decrease in ASKs and a 10.3% drop in the number of passengers carried as a result of the reduction in pilots [numbers].” <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-05-17/unaligned/thailands-nok-air-records-us-10-8m-loss-in-q1
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Thailand's Nok Air records US$10.8m loss in Q1
Nok Air reported a Q1 net loss of THB379.9m (US$10.8m), reversed from net profit of THB55.6m in the year-ago period. Q1 revenue fell 2.04% to THB3.38b; operating costs for the quarter were THB3.55b, up 10.8% from the year-ago period. The LCC attributed increased costs to the rise of aircraft lease rental and ongoing maintenance costs from a recent fleet expansion. Additional pressure came from “domestic low-cost carriers still facing challenges from [local] price wars and oversupply.” The company also said the lower-than-expected results, and the revenue decrease, were “mainly due to flight frequency cuts [resulting in] a 7.1% decrease in ASKs and a 10.3% drop in the number of passengers carried as a result of the reduction in pilots [numbers].” <br/>
