NokScoots board has decided to liquidate the company as it sees no path to recovery.
Shareholders will deliberate the same resolution at a general meeting to be held in about 14 days, says the airline.
It had on 24 June disclosed that it would return three of its seven Boeing 777-200s toSingapore Airlinesby the end of June. Sources told Cirium that the companys shareholders were in talks about winding up the joint venture.
NokScootis 49% owned bySingapore AirlinessubsidiaryScoot, 49% byNok Airand 2% by NokScootmanagement (Pueannammitr Co).
The joint venture says it has been operating in very challenging circumstances since its inception in 2014, noting: Some of the challenges include difficulties in growing the network and a very intens…
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