NokScoot’s shareholders have agreed to dissolve the company, after the Thai-Singaporean joint venture airline’s board of directors previously voted in favour of the move.
At a 2020 annual general meeting of NokScoot shareholders held on on 14 July, the shareholders “approved to dissolution, liquidation and appoint liquidator to proceed with the dissolution accordingly”, says shareholder Nok Air in a 16 July filing to the Stock Exchange of Thailand.
On 26 June, NokScoot’s board said it had decided to liquidate the company as it sees no path to recovery for the airline. It said then that shareholders would “deliberate the same resolution” at a meeting to be held “about 14 days” later.
The airline is now in the process of returning its entire fleet of seven Boeing 777-200ERs to Singapore Airlines.
NokScoot is 49% owned by Singapore Airlines subsidiary Scoot, 49% by Nok Air and 2% by NokScoot management (Pueannammitr Co).
