Asia Aviation, the Thai firm which owns a majority 51% shareholding in Thai AirAsia (FD, Bangkok Don Mueang), has confirmed reports in the Thai media that it is considering acquiring a stake in Nok Air (DD, Bangkok Don Mueang).

This past weekend, reports had indicated Asia Aviation would acquire shares in Nok Air currently held by the Jurangkool family. According to Nok Air's shareholder breakdown, as of January 4, 2019, the Jurangkool family held a collective total of 55.13% (Nuttapol Jurangkool with 23.77%, Thaveechat Jurangkool with 18.86%, and Hathairatn Jurangkool with 12.5%).

"In relation to the acquisition of shares in Nok Air from the Jurangkool group, the Company would like to clarify that it is currently considering whether such investment is appropriate, but there has not been any written agreements nor any actions taken that are binding on the Company with respect to the acquisition of Nok Air shares," Asia Aviation's Chief Financial Officer, Santhat Sanguandikul, said in a stock market filing.

Nok Air also counts Thai Airways International (TG, Bangkok Suvarnabhumi) as a shareholder with a 15.8% stake.

With the recent phasing out of its two remaining ATR72-500s, HS-DRC (msn 740) and HS-DRD (msn 754), Nok Air has since announced it will transition two domestic routes out of its Bangkok Don Mueang hub - Roi Et and Nakhon Phanom - to a seasonal basis i.e. they will only operate from March 1, 2019 through to October 26, 2019, when tourist demand is sufficient.

The carrier said in a statement last week that the overall reduction in fleet complexity would benefit the carrier's bottom line through reduced maintenance and operating costs.

"Nok Air has negotiated with the owner of the leased aircraft [Thai Airways] to ask to return the two leased aircraft at the end of February and we will not be fined because an agreement has been reached," acting chief executive Pravej Ongartsittigul said. One of the aircraft was only due out in 2020 while the other was due out in 2021.

As it stands, Nok Air operates fifteen B737-800s and eight Dash 8-400s on flights throughout Thailand as well as to China, Myanmar, and Vietnam.