BANGKOK, 15 May 2020: Nok Airlines PCL has requested the Stock Exchange of Thailand to allow it to postpone the submission of its Q1 financial statement until 14 August.
It filed the request Thursday citing the fallout from Covid-19 travel restrictions that forced the airline to suspend all of its international flights to 26 destinations in six countries, namely, Myanmar, Vietnam, China, Japan, Taiwan and India.
Claiming the suspensions restricted the company’s ability to access and audit some of the financial activities of both the company and its subsidiaries and provide forward statements on the performance outlook.
The first quarter is the traditional peak season with revenues accounting for 31.21% of all the earnings in 2018 and
27.29% for 2019 respectively. The first quarter of 2020 collapsed for all of Thailand’s airlines by 25 January, when China locked down Hubei province on the eve of the Chinese New Year holiday after the first Covid-19 cases were reported at the beginning of January. Thailand also became the first country outside of China to report a case on 13 January.
