Under the terms of the agreement, SIA EC will subscribe for a 51% stake in the JV for $1.34 million in cash – while NokScoot will hold the remaining 49% interest with a $1.4 million cash subscription.
SINGAPORE (April 1): SIA Engineering Company (SIA EC) is establishing a $2.74 million line maintenance joint venture (JV) company in Thailand with low-cost carrier (LCC) airline, NokScoot Airlines.
The JV company is due to commence operations in Bangkok’s Don Mueang Airport (DMK) with the aim to subsequently expand to other key airports in Thailand.
