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Nok Air's decision to ground leased aircraft results in contractual complications with lessors


Nok Air’s decision to ground six leased B737-400s as part of its survival plan has reportedly led to contractual complications with aircraft lessors, GECAS and AerCap, both of whom have stated the LCC needs to honour the lease agreements for the aircraft. Nok Air confirmed it has been in dicussions with the lessors over the decision and is confident of a good outcome. [699 words]

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  • To miss 2008 passenger traffic and revenue projections
  • Break even possible with fuel at USD120/barrel
  • Current focus: increasing fares and improving load factors 
  • Diversifying income base with proposed hotel operation
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