NOK: Broken Wings
NOK: Broken Wings
NOK: Broken Wings
31 ส.ค. 2563

Following the rehabilitation of Thai Airways International Public Company Limited (THAI), lately the little sibling like Nok Airlines Public Company Limited (NOK) is also to undergo rehabilitation after lodged an application to the Central Bankruptcy court…
NOK has had four capital increases within 4 year, but cannot fill the hole. Moreover, THAI has ignored all of NOK’s newly issued shares, resulting in a reduction of 2.65% in stakeholding to hold only 13.28%.
Fortunately, NOK has “Churangkul Group”, who always providing financial assistance to NOK, as a major shareholder.
But NOK somehow still experinces a severe loss…!!!
In 2016, the total income of NOK was at 16,938 million baht with a net loss of 2,795 million baht (NPM -16.50%). In 2017, the income was at 20,376 million baht with a net loss of 1,854 million baht (NPM -9.10%). In 2018, the income stood at 19,740 million baht with a net loss of 2,786 million baht (NPM -14.12%) and in revenue was 19,969 million baht in 2019 with a net loss of 2,051 million baht (NPM -10.27%), pushing a deficit to exceed 10,000 million baht.
The existing problem has yet to be solved, but come another drastic crisis, worsening by Covid-19…what a poor bird!
Furthermore, in late June, NOK has announced the business termination of “NokScoot Airlines” after severely hit by financial losses.
Currently, NOK has total liabilities of 26,000 million baht, compared to its total asset value of 23,000 million baht. Liabilities are believed to cause by aircraft rental expenses. NOK now has 14 189-seat Boeing 737-800s and will add two new aircrafts to the fleet by the end of this year.
The only solution to prevent more losses for NOK as of present is to seek rehabilitation plan, at least it could delay debt repayment. 
Let’s keep our fingers crossed and pray for NOK to spread the wings again. 