Nok Air has posted a 36% increase in first-quarter annual net profit to THB55.6 million ($1.66 million). This quarterly result reverses the full year 2014 loss of THB471.7 million. Revenue was up 11.7% to THB 3.5 billion, with operating expenses up by 12% to THB3.3 billion. Operating profit rose 1.6%. The Thai low cost carrier has attributed the performance to the recovery in the Thai economy and a drop in oil prices, which helped push up traffic by 31.1% to 2.32 million passengers in the reporting period. RPK was up by 20%, while load factor rose by 4.8 percentage points

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