Nok Receives No Objections to Entering Business Rehabilitation

Nok Air looks set to be allowed to restructure under court supervision, after nobody raised objections during a court hearing today, according to a 27 October filing to the Stock Exchange of Thailand, FlightGlobal reported. The Thai budget carrier says the order on its business rehabilitation petition will be issued at 09:00 on 4 November by Thailand’s Central Bankruptcy Court, after which Nok will provide further details to the stock exchange. The court had accepted the company’s petition on 30 July and set the hearing for 27 October. The airline said in September that it plans to improve fleet efficiency, seek alternative revenue streams, and adjust its marketing efforts in a bid to reduce costs. This will include adding more night flights, improving maintenance scheduling and adjusting its fleet. Read more