August 11, 2008
Bangkok - Low-cost airline Nok Air CEO Patee Sarasin admitted the airline was in crisis due to 114 million baht of loss. Flights were reduced from 70 to 30 a day.
The airline’s rehabilitation plan was already submitted to the transport ministry.
The airline reduced the number of its flights from 70 to 30 per day, also cutting 25% and 5-10% of the management’s salary and the salary of the employees who earned more than 15,000 baht per month.
Its service covers destinations like Chiang Mai, Phuket, Hat Yai, Udon Thani, Nakhon Si Thammarat and Trang province.
The number of used aircrafts was cut from nine to three.
Transport Minister Santi Prompat previously ordered Nok Air to adjust its management plan to deal with the loss.
The budget airline was told by the transport ministry to bargain for the plane lease discount and do the haircut for the maintenance cost.
Thai Airways International holds 39% stake in Nok Air.
