BANGKOK, 19 September 2022: Nok Airlines confirms it is restructuring debt and adopting measures to resolve its financial crisis as the Stock Exchange of Thailand warns it could face delisting.
In its latest statement to the Stock Exchange of Thailand, the airline’s board outlined measures it is undertaking as part of its rehabilitation supervised by the Central Bankruptcy Court. The company confirmed it is increasing its capital as part of a rehabilitation plan that will enable it to resume business efficiently while cutting debt.
It presented the plan’s key points that call for the rationalisation of its fleet to allow it to resume some international routes while gaining more revenue and reducing operating costs.
It intends to renegotiate aircraft lease agreements to reduce aircraft rental maintenance contractors.
The restructuring of debt with creditors and repayment schedules in compliance with the court-approved rehabilitation plan are identified as priorities. But it confidently outlined plans to launch new promotions and services to improve revenue reaching out to passengers with special deals while increasing cargo revenue as international services reopen.
It hopes to increase revenue from cargo operations, which have improved due to international routes opening.
In the statement signed by the airline’s CEO, Wutthiphum Jurangkool said the present positive trend that continues to deliver travel recovery globally gives the airline confidence that it “can return to normal business operations with improved performance.”
