NokScoot Airlines continues to improve its bottom line as it gears up for growth next year after the restrictions imposed by the International Civil Aviation Organization (ICAO) are removed.
The Thai-registered joint venture of Thailand's Nok Air and Singapore's Scoot narrowed its loss in the first half this year by 48.9% year-on-year while raising revenue by 43.5%.
It posted a net loss of 117.5 million baht over that period, down from the 229.9-million-baht-loss incurred in the first half last year.
First-half revenue was 2.63 billion baht, up from 1.83 billion year-on-year, according to a statement from the low-cost carrier.
After posting its first net profit since its inception in May 2015 of 9.9 million baht in the first quarter this year, NokScoot had a hiccup in the second quarter. Higher fuel costs plunged the airline into the red from April to June this year, for a net loss of 127.5 million baht, down from a 153.5-million-baht loss recorded in the same period last year.
But NokScoot remained positive about the prospects of returning to profit next year as it expects to get its delayed expansion off the ground.
Like other Thai-registered airlines, NokScoot expects ICAO to lift the red flag placed on Thailand's aviation safety shortcomings by next month, a move that will allow it to fly new routes.
NokScoot has taken preparatory steps to spread its wings again, especially to Japan and South Korea, which were the focus of its expansion with routes from Bangkok when ICAO's red flag became effective.
Having its commercial flight operation permit re-certified by the Civil Aviation Authority of Thailand (CAAT) under globally accepted safety standards in June this year facilitates the airline's growth plan.
Earlier this year, NokScoot became one of the Thai-registered airlines to be entered on the Operational Safety Audit registry of the International Air Transport Association.
NokScoot is due to take delivery of its fourth Boeing 777-200 wide-body jet this month as it celebrated serving 2 million passengers on Aug 16, NokScoot chief executive Piya Yodmani told the Bangkok Post.
Under its plan, a fifth aircraft of the same type would join the airline's fleet in February next year and a sixth in October.
A bolder expansion plan is likely to be proposed when ICAO lifts its red flag, said executives.