13/07/2020

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Board of directors vote to liquidate NokScoot

NokScoot’s Board of Administrators has handed a resolution to liquidate the business. Its shareholders will...

NokScoot’s Board of Administrators has handed a resolution to liquidate the business. Its shareholders will deliberate the exact same resolution at a typical meeting to be held in about 14 times.

A push statement
reported, “NokScoot, a joint enterprise in between Scoot and Thailand-dependent airline Nok
Air, has been working in very demanding situations because its inception
in 2014. Some of the worries involve difficulties in rising the network and
a very extreme aggressive surroundings.

“Unprecedented worries
arising from the COVID-19 pandemic have additional exacerbated the circumstance.
As a result, the Board of Administrators does not see a route to restoration and
sustainable development for the airline.”

To date, 425
staff members have been retrenched with whole retrenchment gains in compliance
with Thai labour rules. A little staff of staff members will stay on to control and see
as a result of the liquidation procedure to completion, soon after which they will receive
equivalent retrenchment gains.

A additional update
will be provided the moment an administrator is appointed for creditors to lodge
their promises.