Nok Air and Scoot to set up low cost airline

Thailand's Nok Air and Singapore's Scoot have announced plans to set up a new low cost airline in the Asia-Pacific region.

The airline will be called NokScoot if approved by regulators and will operate on medium and long-haul routes.

Nok Air, which is Thailand's second-largest budget carrier, will own up to 51 percent of the venture, while Scoot will own 49 percent.

Both airlines will make an initial joint investment of $64 million.

"Thailand is Asia's premier tourist destination and logical hub for Scoot to expand to," said Scoot Chief Executive Officer Campbell Wilson.

Image: © Getty

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