Nok Air profits slide during Q1

Dino D'Amore
By Dino D'Amore May 15, 2014 14:06

Nok Air profits slide during Q1

Thailand’s low-cost carrier Nok Air has reported a 90.2% slide in first-quarter profit to THB40.9 million ($1.25 million) compared to the year-ago period. More domestic competition from carriers such as Thai Lion Air, which aided a 20% increase in available domestic flights, and the continuing political instability in Thailand have been blamed for the drop – pushing down fares.

Depreciation of the Thai Baht against the dollar is also a significantly factor affecting Nok Air’s operating costs.

First-quarter revenue was up 11% to THB3.14 billion, yet costs rose 28.9% to THB3.1 billion. Nok Air carried 23.4% more passengers during the quarter to 1.77 million, but yield fell 7.6%. RPKs rose by 17.4% to just over 1 billion, with ASKs up by 28.7% to 1.3 billion, producing a dip in load factor by 7.7 percentage points to 79.9%.

Dino D'Amore
By Dino D'Amore May 15, 2014 14:06
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