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Scoot, Nok Air agree to set up NokScoot by acquiring Pete Air
Published Thu, Jun 19, 2014 · 10:00 PM
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."
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