Nok Air last month took delivery of its 18th jet, a Boeing 737-800 named Nok Yoknapha. Nok and rival Thai AirAsia are suffering from tumbling fares.
SET-listed Nok saw its average quarterly fare decline by 28% from the first quarter of 2013 to the third quarter of 2014, to B1,662 per flight sector.
TAA's average quarterly fare tumbled 20% over the same period to B1,789, according to figures compiled by the SCB Economic Intelligence Center.
Fierce competition and sluggish travel demand caused by the country's political unrest coupled with last May's coup and subsequent imposition of martial law were cited for the falling fares.
TAA's revenue was B6.02 billion in the first quarter of 2013, edging up to a high of B6.5 billion in the fourth quarter of 2014 before tapering off to B5.55 billion in the third quarter of 2014.
Nok's revenue stream saw a similar pattern, starting at B2.65 billion in the first quarter of 2013 and peaking at B2.88 billion in the first quarter of 2014 before slipping to B2.52 billion in the third quarter of 2014.
Nok posted a B491-million loss in the first nine months of last year.
In the same period, Asia Aviation Plc (AAV), the major shareholder in TTA and also listed on the Thai bourse, incurred a net loss of B246 million.
It was a reversal for Nok and AAV, which posted net earnings of B1.06 billion and B1.04 billion, respectively, for the whole of 2013.
NOK shares closed yesterday on the SET at B13.60, up 10 satang, in trade worth B19.5 million.
AAV closed at B4.68, down two satang, in trade worth B37 million.
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