NokScoot Airlines has got the nod to to receive financial aid in the form of a loan of Bt200 million from Hathairat Jurangkool, its biggest shareholder. Singapore Airlines, which owns 49 percent of NokScoot, said Friday (26 June) that the board of directors of Thai affiliate NokScoot have passed a resolution to liquidate the company.NokScoot’s shareholders will consider the move at a general meeting to be held in about 14 days. Join over 180,000 travel agents, professionals and executives subscribed to our daily newsletter NokScoot Network Before COVID-19. Company profile page for NokScoot Airlines Co Ltd including stock price, company news, press releases, executives, board members, and contact information Flight crew walks past a giant poster of NokScoot office at Don Muang airport in Bangkok, Thailand, Saturday, June 27, 2020. NokScoot flew from Bangkok to Singapore, Taipei, and destinations in China and Japan using a fleet of Boeing 777-200 aircraft leased from Singapore Airlines. NokScoot flew from Bangkok to Singapore, Taipei and destinations in China and Japan using a fleet of Boeing 777-200 aircraft leased from Singapore Airlines. NokScoot flew from Bangkok to Singapore, Taipei and destinations in China and Japan using a fleet of Boeing 777-200 aircraft leased from Singapore Airlines. 31st May 2018. Scoot offered to sell its stake in NokScoot to Nok Airlines for a nominal sum of 1 baht ($0.03). Thailand's low-cost carrier NokScoot, which is partly owned by Singapore Airlines, said its board of directors decided to liquidate the company as the coronavirus pandemic dimmed prospects for its recovery. NokScoot has a similar two-class product to Scoot, with 10 seats abreast in economy and eight seats abreast in the premium cabin. The budget carrier NokScoot Airlines announced today, just days after announcing they were laying off four hundred employees, that they are going out of business. Thai Airways International, now under bankruptcy protection, holds a 13.28% shareholding in Nok Airlines. The Regional carrier operated routes serving parts of China and Japan as well as New Delhi, Singapore and Taipei, from its main base at the Don Mueang airport in Bangkok. NokScoot Airlines gets approval for Bt200m loan from its major shareholder. The carrier announced on June 24 that three of its seven Boeing 777-200 aircraft would be returned to Singapore Airlines, and as of June 26, 425 employees have been entrenched with full benefits in line with Thai labor laws. NokScoot, also known as NokScoot Airlines Company Limited, is a Thai low-cost airline based at Don Mueang International Airport in Bangkok. NokScoot Airlines has got the nod to to receive financial aid in the form of a loan of Bt200 million from Hathairat Jurangkool, its biggest shareholder. NokScoot Airlines’ board of directors decided to liquidate the low-cost airline, a statement from the airline said. Book international flights on Asia Pacific's Best LCC 2017 & 2019. NokScoot Boeing B777-200ER. NokScoot was established in 2014 as a joint venture between Singapore-based Scoot and SET-listed Nok Airlines Plc. NokScoot will operate three Boeing 777-200ERs in 2015, sourced from Scoot parent; Singapore Airlines. The budget carrier NokScoot Airlines announced today, just days after announcing they were laying off four hundred employees, that they are going out of Business. Up to date airline profiles for up to 5,000 airlines and aircraft operators: Fleet lists, schedule, news, route network, IATA/ICAO codes, alliances, subsidiaries, regional partners and codeshare agreements, launch year, mergers and rebranding, stock market quotes and URLs. The airline and 7 other Thai-based airlines, mostly budget carriers, are asking the government for 24 billion baht in soft loans. Nok, a domestic budget carrier established in 2004, holds 51% of the shares and Scoot, a Singapore Airlines subsidiary, holds the remaining 49%. Industry Global News24 - News solution that helps you connect and engage with target audiences in Business, Healthcare, Technology, Industry Latest News, Updated News, Latest trending News on industry across the world. The airline, a joint venture between Singapore-based Scoot and Nok Airlines Plc., has not recorded a full-year profit since its inception in 2014. NokScoot was an attractive option for leisure travelers. Singapore Airlines subsidiary, holds the remaining 49%. The long-haul low-cost carrier was established in 2014, with Scoot owning a 49% stake at the airline, while Nok Air, another low-cost carrier, had a 51% stake at the company. To date, 425 employees have been retrenched. Thailand's low-cost carrier NokScoot, which is partly owned by Singapore Airlines, said its board of directors decided to liquidate the company as the coronavirus pandemic dimmed prospects for its recovery. Unfortunately, after exhausting all possible options, Scoot and Nok Air decided that liquidation might be the only remaining option. NokScoot’s shareholders will deliberate on the resolution and decide on the liquidator during an annual general meeting on July 14. As a result, Singapore Airlines will have to pay a one-off charge of S$123.6 million (US$ 88,710,255) for the first quarter ending June 30th. Offering cheap & budget flights to multiple destinations at Scoot. Nok Airlines Pcl (Nok) notified the Stock Exchange of Thailand (SET) that the company’s board of … Singapore Airlines, which owns 49% of NokScoot, said that the board of directors of Thai affiliate No... See more » June 29, 2020 Singapore Business Review News Nok Airlines Pcl (Nok) notified the Stock Exchange of Thailand (SET) that the company’s board of directors on January 23 had approved the proposal of its affiliate NokScoot Airlines Co. A small team of employees will stay on to manage and see through the liquidation process to completion. The airline is a joint venture of Singapore based Scoot and Thailand’s Nok Air. NokScoot Airlines to be liquidated By THE NATION NokScoot Airlines’ board of directors decided to liquidate the low-cost airline, a statement from the airline said. LOW-COST carrier NokScoot Airlines, a joint-venture between Thailand’s Nok Air and Singapore’s Scoot, on Tuesday expanded its footprint in China with direct flights between Shanghai and Bangkok. ... NOKSCOOT AIRLINES OF BANGKOK SHUTS DOWN ITS BUSINESS OWING TO CORONAVIRUS OUTBREAK Published On 27 Jun 2020 11:34 AM. Published 27 June 2020. According to FlightsGlobal, Singapore Airlines has confirmed that they are taking back the Boeing 777-200s. The carrier intends to add two aircraft to … News. NokScoot’s shareholders will deliberate on the resolution and decide on the liquidator during an annual general meeting on July 14. Bangkok (the Nation/ANN)—NokScoot Airlines’ board of directors decided to liquidate the low-cost airline, a statement from the airline said. Nok, a domestic budget carrier established in 2004, holds 51% of the shares and Scoot. Photo: NokScoot. NokScoot operated a fleet of seven Boeing 777-200ER aircraft, all previously flown under Singapore Airlines, … NokScoot Airlines Co., Ltd. (Thailand) ... STAY UPDATED WITH THE LATEST TRAVEL NEWS, JOBS & EVENTS! NokScoot was established in 2014 as a joint venture between Singapore-based Scoot and SET-listed Nok Airlines Plc. NokScoot is making an unspecified number of staff redundant, and returning three aircraft by month-end, as part of a rationalisation of its business amid the pressures of the Covid-19 pandemic. TAGS 2019 Coronavirus The airline, a joint venture between Singapore-based Scoot and Nok Airlines Plc., has not recorded a full-year profit since its inception in 2014. 5 months ago. Without the funds, Thai AirAsia says many airlines will simply collapse. The board of directors of NokScoot (XW, Bangkok Don Mueang) has resolved to liquidate the loss-making carrier, its 49%-owner Scoot (TR, Singapore Changi) has said in a press release. NokScoot Airlines Company Ltd. Country: Thailand: Airline Founded : 2014: Started Operations: 25 Jul 2014: Ceased operations: 26 Jun 2020: Base / Main Hub: Bangkok Don Mueang (DMK / VTBD) Fleet Size: 5 Aircraft : Average Fleet Age 1: 18.8 Years: Official Site: nokscoot.com NokScoot isn’t the only airline hurting. ... NokScoot News. 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