Scoot, Nok Air agree to set up NokScoot by acquiring Pete Air

LOW-COST carriers Scoot and Nok Airlines have signed a joint-venture agreement to set up NokScoot by acquiring Pete Air, said Scoot's parent Singapore Airlines (SIA) yesterday.

It comes six months after the two parties signed a memorandum of understanding to establish the new Bangkok-based low-cost carrier.

In yesterday's regulatory filing, SIA said: "Acquiring Pete Air Co Ltd., instead of setting up a greenfield venture, would expedite the startup of NokScoot."