BANGKOK, 18 November 2020: Nok Air reported a third-quarter “comprehensive loss” of THB 2,598.71 million compared to the same period in 2019.
Over nine months ending September 2020, the company recorded a loss of THB3,935.96 million compared with a loss of THB1,634.97 million in the same period of 2019.
In its report to the Stock Exchange of Thailand, the airline attributed the loss to the “ongoing outbreak of Covid-19, which poses severe impacts on global air travel demand.”
Thailand’s airline business has been crippled by international travel restrictions starting with a lockdown March to May 2020 that halted all international flight operations. Nok Air was the only carrier that continued to operate domestic services during the shutdown.
The airline stated that the liquidation of NokScoot Company Limited 29 July 2020 also added to company losses.
The company’s revenue during the Q3/2020 reached THB4,827.74 million down 47.68% from the same period in 2019. Operating costs reached THB 9,473.19 million down by 10.74 % from the same period in 2019.
The loss attributable to the shareholders of the parent company increased to THB3,935.96 million.
In a memo to the president of The Stock Exchange of Thailand, Nok Airlines PCL acknowledged the resignation of the director and chairman of the executive committee, Pravej Ongartsittigul, effective date 13 November.
Source: Nok Air report to SET 16 November)