Nok Air reports losses in Q1 2019 financial results

Thailand’s Nok Air has reported a consolidated net loss of Bt391 million (approximately $12.4 million) in its first quarter 2019 financial results – which it has blamed on a reduction in its fleet size. Under the recently announced turnaround plans, the airline has reduced the number of aircraft in its fleet – withdrawing two ATR 72-500s – leaving the airline with 23 aircraft in its fleet. Nok Air’s consolidated revenue for the quarter to fell 10% to Bt5.45 billion, its expenses were reduced by 4% to Bt5.84 billion.