The board of directors of NokScoot Airlines has passed a resolution
to terminate business and liquidate the Thailand-based budget carrier.
To date, 425 employees have been retrenched with full benefits in compliance with Thai labour laws, with a small team of staff members remaining to work on the liquidation process,
NokScoot was established as a joint venture between Singapore-based
Scoot, a Singapore Airlines subsidiary, and Thailand-based carrier Nok
Air, of which Thai Airways International has a 13.3% shareholding.
However, NokScoot has been unable to record a full-year profit since
its inception in 2014, largely due to the difficulties in growing the
network amid an intense competitive environment. Unprecedented
challenges arising from the Covid-19 pandemic have further exacerbated
"Consequently, Scoot does not see a path to recovery and sustainable
growth for NokScoot," according to Scoot in a media statement. "In
considering other possible alternatives, Scoot also offered to sell its
49% stake in NokScoot to Nok Air for a nominal sum of one baht
(US$0.032). This was not taken up."
To date, 425 employees have been retrenched with full benefits in
compliance with Thai labour laws, with a small team of staff members
remaining to work on the liquidation process, NokScoot announced in a
However, the liquidation/reduction in business activities of NokScoot
Airlines poses no direct or indirect impact to Nok Air’s normal
operations, the company said in a Friday filing to Thailand Stock