Nok Air eyes thinner fleet in turnabout

Nok Air has deferred the acquisition of eight new Boeing 737 Max 8 jets and will phase out seven existing aircraft as part of a fleet rationalisation. The latest move is part of an ongoing business rehabilitation as the cash-strapped budget airline looks to turn around its balance sheet after combined<br/>losses of 4.93 billion baht from 2014 to June 2017. The fleet rationalisation is aimed at shedding existing aircraft capacity and curbing additional capacity to match traffic demand. The exercise appears to be high on the agenda of newly appointed CE Piya Yodmani, who succeeded long-serving Patee Sarasin. Nok Air has already secured an agreement from US plane maker Boeing to postpone taking delivery of the eight B737 Max 8 jets without the deferment being considered a breach of contract.<br/>