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Nok Air reports best ever results in 2010

3-Feb-2011 10:43 AM

Nok Air announced it reported its best ever results in 2010 due to growth in travel demand driven by the nation’s strong economic growth (Bangkok Post, 02-Feb-2011). The LCC reported the following financial highlights for the year:

  • Revenue*:
    • Passenger: USD128.8 million, +37% year-on-year;
  • Net profit: USD20.0 million, +83.9%;
  • Passenger numbers: 3.1 million, +43.5%;
  • Jan-2011:
    • Net profit: USD1.9 million;
  • 2011 forecast:
    • Passenger revenue: 175.1 million;
    • Passenger numbers: 3.8 million.

* Based on the conversion rate USD1 = THB30.834

The carrier is expecting a lower profit this year due to increases in crude oil prices and slower GDP growth, which is forecast to be similar to last year’s 7.9%. Nok Air CEO Patee Sarasin added the carrier “would rather be conservative in our projection than too optimistic”.