Nok seeks to ease investors’ nerves

Nok Airlines has sought to reassure investors that its moves to staunch its losses and create sustainable growth are on track. Prawet Ongartsitthikul, acting CE, said that the airline is continuing to operate its business as set out in the plan to halt the losses, bring stability and promote continuous growth. The airline is now in the first phase of this plan, rushing to mop up the red ink on its balance sheet. “[Nok’s] financial statements are in difficulty as we all know, given that the overall situation is difficult to control and that has required us to have a ‘C’ (caution) sign posted,” Prawet said. In response to a rumour of a planned sale of Nok's stake to other airlines, he insisted that there has not been any negotiations on this matter. However, he said that in the future, if Nok has to expand its business, it may become necessary. <br/>