Industry unfazed by NokScoot closure
NokScoot's closure is unlikely to have a significant impact on the domestic aviation industry due to international flight restrictions, with the industry's existence depending on vaccine development, say brokerage firms. The regional budget carrier said its board of directors decided last Friday to liquidate the airline, with the decision to be announced at a general meeting of shareholders slated within two weeks. The airline had been struggling with fierce competition from other low-cost carriers before the Covid-19 pandemic caused most airlines to be grounded because of lockdown measures and travel restrictions. The decision will leave 450 staff unemployed, except for some who will work on the liquidation process. NokScoot operated medium- and long-haul Asian routes serving seven cities in China and three in Japan, as well as New Delhi, Singapore and Taipei, from its base at Don Mueang airport in Bangkok. The closure will not affect Nok Airlines' routes and services as the company operates mainly domestic flights, said KTB Securities Thailand. Every route operated by NokScoot remains closed and it is uncertain when these destinations will allow inbound flights to resume, said KTBST.<br/>
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Industry unfazed by NokScoot closure
NokScoot's closure is unlikely to have a significant impact on the domestic aviation industry due to international flight restrictions, with the industry's existence depending on vaccine development, say brokerage firms. The regional budget carrier said its board of directors decided last Friday to liquidate the airline, with the decision to be announced at a general meeting of shareholders slated within two weeks. The airline had been struggling with fierce competition from other low-cost carriers before the Covid-19 pandemic caused most airlines to be grounded because of lockdown measures and travel restrictions. The decision will leave 450 staff unemployed, except for some who will work on the liquidation process. NokScoot operated medium- and long-haul Asian routes serving seven cities in China and three in Japan, as well as New Delhi, Singapore and Taipei, from its base at Don Mueang airport in Bangkok. The closure will not affect Nok Airlines' routes and services as the company operates mainly domestic flights, said KTB Securities Thailand. Every route operated by NokScoot remains closed and it is uncertain when these destinations will allow inbound flights to resume, said KTBST.<br/>
