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NokScoot Improves Results in 2016, but Still in the Red
15th Nov 2016
Thai-based long-haul, no-frills carrier NokScoot remains in the red despite improving its financial performance. The Nok Air, Thailand and Scoot, Singapore joint venture registered a 3Q 2016 loss of 147 million Thai baht (THB), which was down from last year’s 298 million baht loss.
Cumulatively, NokScoot reduced its loss for the period between January and September to 377 million baht, whereas its cumulative loss for the same period in last year was 917 million baht. This can be seen as a vast improvement and can largely be attributed to increased scheduled flights to new Chinese destinations as well as an increased frequency on some of the existing routes the carrier is operating.
NokScoot’s revenue for the first months of 2016 also increased and the company registered it at 2.93 billion baht. The revenue for the same period in the previous year was 529 million THB.
However, the overall performance in January-September period was largely affected by the International Civil Aviation Organization (ICAO) red-flagging Thailand due to safety concerns.
NokScoot Wants to Focus on China
NokScoot is intent on shifting its focus to China, believing the large market there will allow it to improve its financial results and get out of the red zone where it has been since the launch back in 2015.
At the moment, NokScoot operates seven flights per week to Nanjing, four weekly flights to Qingdao, Taipei and Tianjin and three flights a week to Chongqing, Dalian and Shenyang. All but one of its flights takes off from Don Muang International Airport in Bangkok.
The carrier operates all seven routes using three wide-body Boeing 777-200 jets, but has plans to add seven more planes of the same model over the following two years in order to support its growth plan.
Nok Air Continues to Mount Losses
Meanwhile, one of NokScoot’s parent companies, Nok Air is continuing to mount losses despite cutting schedule on some less profitable routes and improving aircraft utilization.
Not even the improved pilot staffing was enough for the carrier to avoid a net loss for the last quarter and allowing it to see positive financial results.
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