Thai LCC Nok Air is hoping a reduction in aircraft numbers will help reverse its deepening net losses. Nok and its subsidiaries reported a 2019 first-quarter net loss of THB391.3 million ($12.4 million), widened from a net loss of THB1.2 million in the year-ago quarter. Revenue fell by 19.7% year-over-year (YOY), partly because of fleet reduction and a 10.7% decline in average air fares as market competition increased. Aircraft utilization rates also decreased slightly. The carrier phased ...

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