Nok Air Q1 loss balloons as fleet shrinks
Nok Air reported a consolidated net loss of THB391m (US$12.4m) in Q1, which it blamed on the low season and a reduction in its fleet size under its turnaround plan. The loss is a major blowout compared to the THB1.18m reported for the previous corresponding quarter. Consolidated revenue for the 3 months to March 31 fell 10% to THB5.45b, while expenses reduced 4% to THB5.84b. On a standalone basis, Nok Air’s net loss rose from THB32m to THB281m, as revenue fell 20% to THB3.47b for the quarter. The carrier’s ASKs fell 18.5%, but that was outpaced by a 22% fall in RPKs, resulting in cabin seat factor falling 4 percentage points to 89.7%. CASK increased 2.7% to THB2.25, while RASK slipped marginally to THB2.10. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-05-15/unaligned/nok-air-q1-loss-balloons-as-fleet-shrinks
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Nok Air Q1 loss balloons as fleet shrinks
Nok Air reported a consolidated net loss of THB391m (US$12.4m) in Q1, which it blamed on the low season and a reduction in its fleet size under its turnaround plan. The loss is a major blowout compared to the THB1.18m reported for the previous corresponding quarter. Consolidated revenue for the 3 months to March 31 fell 10% to THB5.45b, while expenses reduced 4% to THB5.84b. On a standalone basis, Nok Air’s net loss rose from THB32m to THB281m, as revenue fell 20% to THB3.47b for the quarter. The carrier’s ASKs fell 18.5%, but that was outpaced by a 22% fall in RPKs, resulting in cabin seat factor falling 4 percentage points to 89.7%. CASK increased 2.7% to THB2.25, while RASK slipped marginally to THB2.10. <br/>
