Thai Bourse Threatens Nok Air with Delisting

The Stock Exchange of Thailand (SET) has issued another warning to Nok Air (DD, Bangkok Don Mueang) about the risk of delisting unless the airline resolves its financial reporting issues and resumes trading.

In a statement dated July 31, 2024, the SET set a deadline of September 8 for Nok Air to address the delisting grounds. Trading in Nok Air’s shares has been suspended since 2022 due to repeated failures to submit audited financial statements, following a previous suspension in 2021 for the same issue.

The SET warned that failure to meet the deadline could lead to the delisting of Nok Air’s shares from the exchange. Complicating the situation is Nok Air’s ongoing restructuring. Although the airline recently reported a THB47.66 million (USD1.35 million) profit for the 2023 fiscal year, its CEO, Wutthiphum Jurangkool, has indicated that the restructuring might not be completed within the allowed five-year period, which ends in 2026.

Nok Air operates a fleet of fourteen B737-800s and serves 21 airports across Thailand, India, and China.

Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com