1. Disclaimers The information contained herein is intended to
represent the Companys operating and financial position at a given
point in time and may also contain forward looking information
which only reflects expectations based on the prevailing
geo-political, economic and non-controllable factors. Such
information has been obtained from sources believed to be most
reliable and the means in analyzing and preparation of such
information for disclosure are based on approve practices and
principles in the investment industry. The views are based on
assumption subject to various risks and uncertainties and no
assurance is made as to whether such future events will occur. No
assurance is made as to the accuracy or completeness of information
presented in this document.
2. FreeFlexibleFree 15 kg Serve with Nok KanomSeat
SelectionFree of charge at least a weight of 15 kg. Remark: 1/
Fleet number as of 30 April 2014 2/ Routes is as of 30 April 2014
Wi-Fi on Board target to launch in Q2/2014 3 Model Boeing 737-800
ATR 72 - 500 Fleet/1 (Aircrafts) 15 2 Capacity (Seats) 186 - 189 66
- 72
3. # Primary Routes Current Weekly Flight Frequency* 1 2 3 4 5
6 7 8 9 Bangkok Hat Yai Bangkok Chiang Mai Bangkok Udon Thani
Bangkok Nakhon Si Thammarat Bangkok Ubon Ratchathani Bangkok Surat
Thani Bangkok Phuket Bangkok Chiang rai Bangkok Krabi 56 49 42 35
42 35 28 42 14 Secondary Routes 10 11 12 13 Bangkok Phitsanulok
Bangkok Trang Bangkok Sakhon Nakhon Bangkok Nakhon Phanom 21 14 7 7
Feeder Routes 14 15 16 17 18 19 20 21 22 Bangkok Mae Sot Chiang Mai
Udon Thani Bangkok Nan Bangkok Roi Et Bangkok Chumphon Bangkok Loei
Bangkok Ranong Bangkok Prae Bangkok Burirum 14 7 14 7 7 7 7 7 7
International Routes 23 Bangkok - Yangon 14Flight Schedule for
Summer 2014 4
4. Unit: % Unit: % As of 31 March 2014 Web site and Electronics
63% Call Center 10% Station 11% Travel Agent 10% Corporate and
Group Sales 5% Other 1% Credit card 57% 7- eleven 17% Cash 11%
Direct Debit 8% ATM 6% Others 1% 5
5. 3,282 6,784 9,816 11,538 15,191 17,988 19,35751% 50% 42% 55%
65% 79% 83% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% - 5,000 10,000
15,000 20,000 25,000 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14
May-14 No. of Passenger and Cabin Factor for Don Meuang - Rangoon
Cabin Factor No of PassengerCabin Factor Cabin FactorCabin
FactorNo. of Passenger High awareness of NOK in Myanmar Market
Cabin Factor reached above 80% First flight 1 November 2013 Started
2nd daily flight from Jan 2014, able to serve both Business and
Leisure sectors 6
6. 3.13 4.15 5.89 1.43 1.77 0.00 1.00 2.00 3.00 4.00 5.00 6.00
7.00 2011 2012 2013 Q1/2013 Q1/2014 1,014 993 1,038 1,202 1,306 88%
86% 84% 79% 80% 0 200 400 600 800 1,000 1,200 1,400 25% 35% 45% 55%
65% 75% 85% 95% 1Q13 2Q13 3Q13 4Q13 1Q14 ASK (Mil. Seat-Km.) Cabin
Factor (%) 7 Unit: Million 7 Unit: Mil. Seat-Km. Strong Passenger
Growth since 2011 Passenger carried achieved 1.77 million pax. in
Q1/2014 increase 23.4% YoY. Expected to reach 7 million pax for
year 2014, or over 20% growth Maintain cabin factor at 80% amid
political turbulence Q1/2014 ASK increased to 1,306 mil.seat-Km or
increase 28.7% YoY. Maintain high cabin factor at 80% in Q1/2014.
Average airfare (exc. VAT, airport tax) down to 1,630
THB/Pax/Sector or decrease 12.1% YoY. Unit: %
7. 4,416 5,993 8,040 1,999 2,188 927 1,183 1,321 331 347 217
470 928 185 267 - 2,000 4,000 6,000 8,000 10,000 12,000 2011 2012
2013 Q1/13 Q1/14 Feeder Routes Secondary Routes Primary Routes
Unit: THB Million Continuous Revenue Growth Total revenue increase
11.0% YoY. in line with more production. However, political
unrested in Q1/14 and competition push pressure on average fair in
Q1/14. 6,037 8,260 11,315 2,826 3,136 - 2,000 4,000 6,000 8,000
10,000 12,000 2011 2012 2013 Q1/13 Q1/14 Unit: THB Million
Secondary and Feeder Routes as our Key Contributors for Future
Expansion Revenue contribution from secondary and feeders routes
has been surging due to the trend of urbanization and switching
mode of transportation. 8
8. 5,785 7,740 10,215 2,394 3,086 - 2,000 4,000 6,000 8,000
10,000 12,000 2011 2012 2013 Q1/13 Q1/14 Unit: THB Million Unit:
THB Million Total cost increased in line with production Total cost
increase 28.9% YoY. Increase flight frequency and fleet expansion
led to raise in variable cost and fixed cost. Net Profit
interrupted Demand slowdown from political situation Launched
Promotion to keep competitiveness and boost up cabin factor from
both full services and LCC Passenger returned to travel due to long
holiday e.g. Songkran Festival, May Day etc. Cabin factor bounced
back above 80% level on average in April Q2/2014 Outlook (Apr 1st
half of May) 9 Q1/2013 Q1/2014 Net Profit (Mil. THB) 416 41 4M/2013
4M/2014 No. of Pax (Mil.) 1.88 2.38
9. 2.63 2.77 2.372.39 2.35 2.37 1.54 1.51 1.50 0.00 0.50 1.00
1.50 2.00 2.50 3.00 2013 Q1/2013 Q1/2014 RASK CASK CASK exc. Fuel
Unit: THB/Seat/Km. Unit: THB/Seat/Km. 10 RASK dropped due to
Political unrested and economic slowdown More competition in the
market. CASK Under Control, Be able to Maintain Efficiency CASK was
stable YoY. However, CASK exc. Fuel down to 1.50 THB/Seat/Km. 0.9%
YoY. as a result of cost efficiency. 2.372.35 Fuel cost per unit
increase 3.6% YoY due to impact from THB/USD depreciation YoY.
(THB/USD depreciate 9.5% YoY) Fixed cost per unit increase 6.6% YoY
due to higher lease rate for newer aircraft in fleet. Other
variable cost and SG&A down 3.7% YoY. due to economies of
scale. 0.84 0.87 0.88 0.85 0.45 0.48 0.18 0.17 0.00 0.50 1.00 1.50
2.00 2.50 Q1/2013 Q1/2014 SG&A Fixed Cost Other Variable Cost
Fuel Cost 2.35 2.37Unit: THB/Seat/Km.
10. - 100,000 200,000 300,000 400,000 500,000 600,000 700,000
Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10
Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12
Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 No. of Pax
2008 - 2014 Oil Price Shock 2008 Shut down Airport 2008 Mega Flood
2011 Dissolve of the Parliament May 2011 Political Unrested May
2010 Political Unrested May 2014 Thailand has been through many
turbulence but Passenger have been growing in every crisis Trend of
urbanization and middle class income growth 11
11. Induce advance booking demand Nok Baby and the Angel
Enhance more convenient to tourist by Fly n Ride and Fly n Ferry
1st in the World Reality Show recruit Cabin Crew 12
13. 14 Bangkok Tokyo Osaka Seoul New JV with Scoot NOK will
hold not more than 51% Initial Investment 2,000 million THB.
Independent Airlines focusing on medium- haul flight International
Expansion to key profitable destinations e.g. Tokyo, Osaka, Hong
Kong, Seoul and Beijing Beijing Hong Kong 1. Capturing medium-haul
LCC market opportunities 2. Feeder for inbound passenger for NOK
Airlines 3. Well-established medium-haul LCC brand in the region
for immediate use 4. Utilize Scoots existing infrastructures at
market- based rates to minimize costs and speed up initial
set-up
14. Bangkok Beijing Population 20 Million GDP per capita 13,797
USD Hong Kong Population 7 Million GDP per capita 36,667 USD Japan
Population 128 Million GDP per capita 46,736 USD South Korea
Population 49 Million GDP per capita 23,113 USD Population 65
Million GDP per capital 6,572 USD 0 20 40 60 80 100 0% 5% 10% 15%
20% 25% China Japan Malaysia Korea India Singapore Australia Hong
Kong Indonesia Thailand TouristSpending(Mil.USD) % of No. of
tourist share in Thailand 50 20 10 A circle represents No. of
outbound Tourist Unit: Million Travelers Source: World Travel
Monitor 2013 , IPK International 15
15. 41% 18% 18% 9% 8% 7% THAI ANA JAL Delta Nok Scoot Air Asia
X 48% 21% 21% 10% Before Low Cost entering to Market Low Cost
Carriers Capacity added account only for 15% Remark: 1/ Source:
Thai DCA 2/ Source: CAPA analysis. Capacity is calculated from
total seat per week from BKK NRT 3/ Japan Visa Exempt for Thais
since July 2013 onwards for15 days stay 1.84 1.96 2.29 0.0 0.5 1.0
1.5 2.0 2.5 2011 2012 2013 Unit: Millions 3/ 16
16. Service Nok Scoot 25,000 9,000 Full service Airlines Low
Cost Airlines *Indicative Price from BKK KL NRT **NokScoot
estimated price range 0 10,000 20,000 30,000 40,000 50,000 60,000
ANA Japan Airlines Thai Airways Delta Nok Scoot Air Asia X* 53,000
15,000 30,990 14,555 20,750 8,550 35,000 15,000 49,080 16,700
25,000 9,000 NokScoot ** Unit: Baht 17
17. Nok-Scoot focus on medium haul flight range. Nok-Scoots
flight operation will start in key profitable routes and expand
both in number of destinations and frequency. NOKScoot JV Business
Plan 2 4 5 6 7 FY14/15 FY15/16 FY16/17 FY17/18 FY18/19 Fleet Plan
(B777-200) 18