Thailand’s Nok Airlines Q2 net up 136% to $8.339m

Thailand’s Nok Airlines second quarter profit rose by 136% on a 38.7% increase in revenue, driven by robust passenger traffic growth even as the average fare was depressed by intense competition. The budget airline made US $8.339 Million (260 Million baht) in net profit during the April-June period, up from $ 3.528 Million (110 Million baht) in the same period last year, with earnings per share of $0.0163 (0.51 baht), up from $0.007 (0.22 baht), Nok Air said in a filing with the Stock Exchange of Thailand (SET). Revenue increased to $83.707 Million (2.61 Billion baht) as the number of passengers carried in the quarter rose by 50% year-on-year to 1.4 million due to 52% growth in capacity.