NokScoot goes out of business
Regional budget carrier says it can't recover from pandemic impact

published : 26 Jun 2020 at 18:55

The regional budget airline NokScoot is shutting down, saying it cannot recover from the impact of the coronavirus outbreak.

The carrier said its board of directors decided on Friday to liquidate the airline, with the decision to be announced in a general meeting of shareholders to be held in two weeks.

The decision will leave 450 staff members unemployed, save for some who will work on the liquidation process. The company promised to pay them full benefits in accordance with Thai law.

NokScoot was established in 2014 as a joint venture between Singapore-based Scoot and SET-listed Nok Airlines Plc. Nok, a domestic budget carrier established in 2004, holds 51% of the shares and Scoot, a Singapore Airlines subsidiary, holds the remaining 49%. Thai Airways International, now under bankruptcy protection, holds a 13.28% shareholding in Nok Airlines.

NokScoot operated medium- and long-haul Asian routes serving seven cities in China and three in Japan, as well as New Delhi, Singapore and Taipei, from its base at Don Mueang airport in Bangkok. Even before the coronavirus outbreak began, it was struggling in the market due to intense competitive from other low-cost carriers.
https://www.bangkokpost.com/business/19 ... f-business

They're not the first and wont be the last.

Many will try to trade through the next year but will just run out of cash and their bankers patience.

Liquidate the airline , who's going to buy an airplane nowadays?

Pakistan Airlines need a new Airbus A320. And pilots with real qualifications.

I flew Berlin to Bangkok last year with them it was an okay flight for a budget airline.