SIA Engineering Company (SIAEC) has entered into a joint venture agreement with NokScoot Airlines Co. (NokScoot), to form a line maintenance joint venture based in Thailand.
Under the agreement, NokScoot will hold an equity stake of 51% in the joint venture, with SIAEC taking the remaining 49% stake. The agreement is subject to the receipt of regulatory approvals.
The joint venture will have an initial registration capital of THB63,680,000, or approximately S$2,740,000. NokScoot will subscribe for THB32,476,800, or approximately S$1,397,000, in cash and SIAEC will subscribe for THB31,203,200, or approximately S$1,343,000, in cash in the joint venture.
The joint venture will commence operations in Don Mueang International Airport (DMK) and subsequently expand to other key airports in Thailand.
