NokScoot
NokScoot Airlines Company Limited was a Thailand-based low-cost airline, operating medium- to long-haul international services out of Bangkok's Don Mueang International Airport. On 26 June 2020, the airline ceased its operation and was liquidated as a result of the COVID-19 pandemic.
History
On 16 December 2013, Scoot announced the signing of a memorandum of understanding with Nok Air to establish a new carrier in Bangkok, operating on medium- and long-haul routes with a fleet of Boeing 777-200ER aircraft. NokScoot was a joint venture of Thailand's Nok Air and Singapore based Scoot. The airline operated commercial flights out of Don Mueang International Airport after 20 May 2015. Nok Air owned 51% of NokScoot, with Scoot, a subsidiary of Singapore Airlines, owning the remaining 49% – the Thai statutory limit for foreign ownership. The airline had an initial capital of 2 billion baht.NokScoot went out of business on 26 June 2020 as it could not recover from the effects of the COVID-19 pandemic impact. NokScoot returned three aircraft from the five-jet fleet to the parent company in Singapore by June 2020. The airline company is going to be liquidated after Singapore Airline's low-cost arm Scoot offered to sell its 49 percent shares to Nok Airlines Plc. for a nominal sum of 1 baht, but the offer was not accepted. NokScoot had been unable to record a full year's profit since its inception in 2014. The decision of liquidation left 450 employees out of work.