Nok Airlines stocks nosedive as SET delisting threat soars

[snoop1130]

 

Low-cost carrier Nok Airlines stands on the brink of being delisted from the Stock Exchange of Thailand (SET). This possibility stems from the airline’s failure to improve its financial performance and submit its 2022 financial results within a given timeframe, as stated by the Thai bourse.

 

The SET identified Nok Airlines as a potential candidate for delisting, given that the company’s equity has remained in the negative for two consecutive years and it has been unable to rectify the cause leading to a potential delisting. According to the SET’s statement, the airline has until September 8, 2024, to correct this.

 

Nok Airlines is also under scrutiny for not submitting its financial statements within the designated period. The bourse has given a deadline of October 2, next year for the company to comply, failing which it could face delisting, reported Bangkok Post.

 

SET regulations allow listed companies a grace period of three years to rectify causes for delisting and an additional two years to meet the qualifications required to resume trading.

 

By Alex Morgan

Caption: Picture courtesy of Pattarapong Chatpattarasill

 

Full story: The Thaiger 2023-09-20

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

[bignok]

Its a dog airlines. Crap app. Would never use them again.

[realfunster]

33 minutes ago, bignok said:

Its a dog airlines. Crap app. Would never use them again.

Ironic. Given your name I'd assumed you would be a big fan. 

[puck2]

57 minutes ago, bignok said:

 

<----->

Edited September 20, 2023 by puck2

[Bangkok Barry]

Does anyone still fly Nok, if they have a choice? Whenever I'm at DMK looking at the departure board there are always Nok flights cancelled. Last time I was there it was five. The last two times I took them the departure was an hour late for a one hour flight, and they used a turbo-prop from Khon Kaen to Bangkok rather than a real plane.

[Scottie12]

I quite like Nok,never had any problems with them.

[swerve]

I've never had a problem with Nok and I fly them when I can.  Good to have competition for AirAsia.

[Burma Bill]

5 hours ago, Scottie12 said:

I quite like Nok,never had any problems with them.

Likewise for me, but that was some years ago. Where I lived in Khon Kaen Province, the nearest airport at that time, which had regular daily flights across country to Chiang Mai, was Udon Thani. If I remember correctly, there were 4 daily return flights between UTH and CNX. The service was operated by Siam General Aviation (SGA) for Nok Air Mini using SAAB 340 aircraft. These were extremely comfortable with plenty of body and leg space. A snack meal was also served - not just a small container of water and a cake! The flights were much reduced when Nok Air introduced one daily flight with a Boeing 737. By then Air Asia had a daily flight from Khon Kaen to CNX and this was much more convenient for me. Sadly SGA ceased operating in 2014. Photo of a SAAB 340 operating for Nok Air Mini:

 

 

Edited September 21, 2023 by Burma Bill
additional information

[khunjake]

Flew them once many years ago. HKT->DMK. Could not believe the state of the 737 they used. Thought it would fall out of the sky but miraculously we made it just fine. Never flew them again after that. Usually always AirAsia or gulp TG for domestic. 

[RanongCat]

Unlike the bigger number players it is sad they are probably being squeezed out. An example of corporate cut throat tactics and never mind the  unemployment  factors. Profit rules !

[TallGuyJohninBKK]

On 9/20/2023 at 5:16 PM, snoop1130 said:

According to the SET’s statement, the airline has until September 8, 2024, to correct this.

 

Nok Airlines is also under scrutiny for not submitting its financial statements within the designated period. The bourse has given a deadline of October 2, next year for the company to comply, failing which it could face delisting, reported Bangkok Post.

 

If their various deadlines aren't until NEXT year (fall), it doesn't sound like they're on the verge of ANYTHING right now.. contrary to the OP article.