The Board of Directors of Thai low-cost airline NokScoot have decided to close the airline.
The Board says the airline has been operating under difficult circumstances since its beginning. It says it has had challenges in growing its network and from a very intense competition.
Unprecedented challenges from COVID-19 have made the situation worse and it sees no path to recovery.
Shareholders will meet in about two weeks to discuss the decision.
425 employees are currently furloughed and a small number are staying to see through the liquidation process.
NokScoot is a joint venture between Singaporean budget airline Scoot and Thai airline Nok Air. Started in 2014, it is based in Bangkok and flew to Delhi, Taipei, Osaka, Tokyo and four cities in China, using Boeing 777-200 aircraft.
N.B. Image credit: NokScoot