ASEAN KEY DESTINATIONS
Thailand’s Nok Air plans restructuring
Nok Air, a Thai low-cost airline, plans to undergo a restructuring process after an accumulative loss of 114 million baht ($3.35 million), reported the Thai News Agency (TNA) on Sunday.
TNA quoted Nok Air’s chief executive Patee Sarasin as saying that the airline, 39 percent owned by Thailand’s national flag carrier Thai Airways International, had recently submitted a
restructuring plan to ministry of transport, citing major losses due to the soaring global oil prices which also affected all other airlines.
employment contracts of outsourced employees.
The airline executive said the actions were implemented a month ago, but have not yet produced tangible results, as the current falling oil prices would produce a result in September. At
present, Nok Air passenger capacity is about 88-90 per cent per flight.
The airline started operations on July 23, 2004, and began its first international service to Bangalore at the end of May last year on a daily basis but suspended operations to that route in
November, citing non-availability of aircraft and to allow service to other lucrative routes in Southeast Asia, especially Vietnam.