Thailand's Nok Air widens net losses in FY 2015
Nok Air reported a net loss of THB723.9m (US$20.08m) for FY 2015, deepened from a THB472m net loss in 2014. Nok chairman Somchainuk Engtrakul said the results came as competition in the Thai aviation industry, especially in the LCC sector, has seen rapid expansion. “This resulted in higher supply than demand, which lowered the company’s market share [and brought] a significant impact on consolidated figures [resulting in] a comprehensive loss,” he said. The carrier saw its total revenue increase 17% to THB14.29b, up from THB12.17b in the year-ago period. However, the carrier saw an increase of 23% in operating expenses, from TH12.84b in 2014 to THB15.9b for the year. This was partly due to an increase in available seats, with ASKs up from 5.37b in 2014 to 6.22b in 2015—a rise of nearly 15%. <br/>
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Thailand's Nok Air widens net losses in FY 2015
Nok Air reported a net loss of THB723.9m (US$20.08m) for FY 2015, deepened from a THB472m net loss in 2014. Nok chairman Somchainuk Engtrakul said the results came as competition in the Thai aviation industry, especially in the LCC sector, has seen rapid expansion. “This resulted in higher supply than demand, which lowered the company’s market share [and brought] a significant impact on consolidated figures [resulting in] a comprehensive loss,” he said. The carrier saw its total revenue increase 17% to THB14.29b, up from THB12.17b in the year-ago period. However, the carrier saw an increase of 23% in operating expenses, from TH12.84b in 2014 to THB15.9b for the year. This was partly due to an increase in available seats, with ASKs up from 5.37b in 2014 to 6.22b in 2015—a rise of nearly 15%. <br/>
