Nok Air’s first quarter profit slips by 90% to $11.5 million

Nok Air (Bangkok) reported its first quarter net profits, ending on March 31, 2014, was 40.9 million Baht which declined by 375.2 million Baht ($11.5 million) or 90.2 percent from the same quarter a year ago.

The airline blamed the decline on “higher competition in domestic airline industry since the fourth quarter of 2013 from both “full service airlines” and “low cost carriers”, expanded aircraft fleets, route destinations and increases in flight frequencies. In addition, there was a newcomer (Thai Lion Air) that entered into the market on December 4, 2013.”

The airline also blamed the reduction in profits due to the instability of political situation in Thailand, since the fourth quarter of 2013 which has led to the economic deceleration, consumption, and private sector investment.

Read the full full report from Nok Air: CLICK HERE

Read the full story from the Bangkok Post: CLICK HERE

Copyright Photo: Steve Bailey/AirlinersGallery.com. During this quarter Nok Air retired its last Boeing 737-400. Now the jet fleet is all Boeing 737-800s. Newly-delivered Boeing 737-8FZ HS-DBP (msn 39336) taxies at Boeing Field (Ling County) in Seattle.

Nok Air Aircraft Slide Show: CLICK HERE