Thailand’s NokScoot Airlines is entering liquidation. The airline’s board of directors has passed a resolution to liquidate the company. Its shareholders will deliberate this resolution at a general meeting, which is to be held in about 14 days.
The press statement from NokScoot said “NokScoot, a joint venture between Scoot and Thailand-based airline Nok Air, has been operating in very challenging circumstances since its inception in 2014. Some of the challenges include difficulties in growing the network and a very intense competitive environment”.
“Unprecedented challenges arising from the COVID-19 pandemic have further exacerbated the situation. Consequently, the Board of Directors does not see a path to recovery and sustainable growth for the airline.”
Before the pandemic, NokScoot operated 7 Boeing B777-200ERs which were supplied by Singapore Airlines. These aircraft are in a two-class 415-seat configuration.
NokScoot operated out of Bangkok’s Don Mueang International Airport and offered a network within Asia that flew to 11 medium to long-haul destinations.
According to FlightsGlobal, Singapore Airlines has confirmed that they are taking back the Boeing 777-200s.
To date, 425 employees have been retrenched. A small team of employees will stay on to manage and see through the liquidation process to completion.