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The Central Bankruptcy Court has approved Nok Air’s petition to begin a rehabilitation process, as the low-cost airline struggles with losses incurred due to the Covid-19 economic fallout. The Bangkok Post reports that Nok Air has debts of up to 26 billion baht, with 23 billion baht in assets. In the first half of 2020, it reported revenue of 3.4 billion baht, a drop of nearly 48% on the same period last year. The carrier recorded a net loss of 3.75 billion baht in the first half of this year, up from the 1.18 billion baht loss from the same period in 2019.

Director Kasemsant Weerakun says the carrier has suffered as a result of having its aircraft grounded for months.

“Even though Nok Air can reduce accumulative losses, the airline has suffered from the outbreak, which has grounded our fleet for months. The court has the jurisdiction to rehabilitate the company’s business. This…

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