Nok Airlines stocks nosedive as SET delisting threat soars

Picture courtesy of Pattarapong Chatpattarasill.

Low-cost carrier Nok Airlines stands on the brink of being delisted from the Stock Exchange of Thailand (SET). This possibility stems from the airline’s failure to improve its financial performance and submit its 2022 financial results within a given timeframe, as stated by the Thai bourse.

The SET identified Nok Airlines as a potential candidate for delisting, given that the company’s equity has remained in the negative for two consecutive years and it has been unable to rectify the cause leading to a potential delisting. According to the SET’s statement, the airline has until September 8, 2024, to correct this.

Nok Airlines is also under scrutiny for not submitting its financial statements within the designated period. The bourse has given a deadline of October 2, next year for the company to comply,…