Singapore Airlines Engineering (SIAEC) and Thailand-based LCC NokScoot have entered a joint venture to form a line maintenance joint venture based in Thailand.
The JV will have an initial registration capital of THB63.7 million ($1.95 million), with NokScoot holding the majority shares at 51% and SIAEC the remaining 49%. NokScoot and SIAEC subscribed for THB32.5 million and THB31.2 million in cash respectively.
In a SIAEC press statement, the JV will provide line maintenance for NokScoot’s fleet, starting from its hub in Bangkok’s Don Mueang airport, before subsequently expanding to other key airports in Thailand.
It is noteworthy that NokScoot itself is also a JV between Thailand’s Nok Air and Singapore’s Scoot Tigerair Pte Ltd that owns 49% of the long haul LCC. Ng Chin Hwee, a director of SIAEC, also sits on the board of NokScoot as a representative of SIA.
NokScoot has a fleet of five ex-SIA Boeing 777-200, which an average age of 17 years, used for medium to long haul destinations such as Tokyo-Narita, Shanghai, Delhi and Taipei.