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Scoot and Nok Airways are taking one key step forward in their plans to set up NokScoot, a low-cost budget carrier based in Bangkok.
Singapore Airways said in a statement on Friday that the two partners have agreed on the final structure of the joint-partnership LLC carrier airline.

This follows the partnership of understanding with Nok Airways which was signed in November 2013. Scoot air is a wholly-owned subsidiary of Singapore Airways. Scoot and Nok Airways will ultimately each hold a 48-per cent shareholding of the joint venture holdings.

The final 3 per cent will be held by Pueannammitr Co, a company formed by the management of Nok Airways. The partners plan to set up the joint venture carrier by way of acquiring an existing company, Pete Airways Co, which holds an air operator's licence.The joint venture business will be subsequently renamed NokScoot Airlines Co. The partners have agreed to invest an initial aggregate amount of S$81 million in the joint partnership.

One whole year has passed since soot air took the skies and with-in this year the carrier has carried over 555,000 passengers and still counting. It is fair to say the airline is well on it's way to achieving targets and holding it's ground in the competitve travel market. Scoot Airways is with-in reach of achieving 1.6 million travellers with-in a shorter framework of time. The carrier has closed partnership deals with other airlines such as Tiger and it's own parent airline (SIA) to extend it's routes and destinations. Malindo airways is set to take on Scoot.

 

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