NokScoot Coming To Town

Nok Air announced its board approved the establishment of NokScoot. Singapore Airlines announced Nok Air and Scoot agreed on the final structure of the new airline.

A JV agreement was signed between Scoot, Nok Mangkang (a special purpose vehicle set up by Nok Air) and Pueannammitr (a company formed by Nok Air management) to establish NokScoot by way of acquiring and renaming Pete Air, which already holds an air operator's licence.

Nok Mangkang and Scoot will each initially own 43.75% of the share capital of NokScoot. Subsequent restructuring will adjust shareholdings to 49% held by Scoot, 49% held by Nok Mangkang and 2% held by Pueannammitr. The parties agreed to invest an initial aggregate share capital of THB2 billion (USD61.6 million) in NokScoot, in proportion to their respective shareholdings. 

NokScoot will operate widebody aircraft on medium and long-haul international routes from its base at Bangkok Don Mueang International Airport. Additional information on NokScoot's fleet, routes and service will be announced shortly.