SIA to liquidate associated company of Scoot TigerAir, records one-off charge of S$123.6 mil

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SINGAPORE (June 26): Singapore Airlines (SIA) announced that the board of directors of NokScoot Airlines has passed a resolution to liquidate NokScoot on Friday.

NokScoot’s shareholders will deliberate the same at its general meeting, to be held in 14 days.

NokScoot, which was established in Thailand in 2014 by Nok Airlines, is a 49%-owned associated company of Scoot TigerAir, which is a wholly-owned subsidiary of Budget Aviation Holdings.

Budget Aviation Holdings is a wholly-owned subsidiary of Singapore Airlines.

Following the liquidation, SIA will...(click on link for full story on theedgesingapore.com)