Scoot, Nok Airlines to establish low-cost carrier

SCOOT, Singapore Airlines' low-cost subsidiary, has signed a memorandum of understanding with Nok Airlines, a budget carrier owned by Thai Airways, to establish a new low-cost airline to be based in Bangkok.

The new airline will be named NokScoot, with an initial investment of two billion baht (S$78 million). Nok will have a 51 per cent stake, while Scoot will take a 49 per cent interest in the new airline, which is the Thai legal limit for foreign ownership.

The airline will be based at Don Mueang International Airport and operate widebody aircraft on medi…