Thai-based low-cost carrier (LCC) Nok Air reported a first-quarter annual net profit of THB55.6 million ($1.66 million), up 36% from the previous 2014 period and following a FY 2014 loss of THB471.7 million. The airline said the reversal was partly due to a 2.3% recovery in the Thai economy and a drop in oil prices, which helped drive industry-wide domestic passenger growth of 24% compared to last year’s quarter. First-quarter revenue rose 11.7% to THB 3.5 billion while expenses ...

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