3-Feb-2011 10:43 AM

Nok Air reports best ever results in 2010

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”.