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SIAEC evaluates sustainability of Thai line maintenance JV with Nokscoot Airlines
SIA Engineering Company (SIAEC) has said that it is evaluating the sustainability of its Thai-based line maintenance joint-venture company with Nokscoot Airlines Co. SIAEC and NokScoot have 49:51 ownership in Line Maintenance Partnership (Thailand) Company Limited (LMPT).
The evolving impact of the Covid-19 pandemic and depressed air traffic movement in Thailand has led the investments in LMPT to be scaled down with a minimal manning level at Don Muang International Airport in Thailand.
"There is, pending its shareholders’ approval, a proposal for the dissolution of NokScoot. SIAEC will also evaluate the impact of such dissolution, if approved, on the viability of LMPT," SIAEC said in a regulatory filing on the Singapore Exchange website on Sunday.
The company said that it will keep shareholders posted on any further material developments.