Thailand's Nok Air and Singapore-based Scoot have today announced plans to set-up a new low-cost carrier in the Asia-Pacific region.
Subject to regulatory approval, the airline will be branded Nokscoot and will operate widebody aircraft on medium and long-haul international routes.
Nok Air will own 51 per cent of Nokscoot, which will be based at Don Mueang International Airport in Bangkok, while Scoot will own 49 per cent.
Both airlines will make an initial joint investment of £39 million ($64 million).
Nok Air CEO Patee Sarasin said: "It has always been Nok's goal to offer Thais more choice and more value, of which this venture is yet another example.
"We're also excited at the opportunity to encourage more inbound tourists, to boost the Thai economy."
The announcement was made on the same day that Tigerair also unveiled a joint venture with China Airways for their own LCC, to be called Tigerair Taiwan.
That budget airline, of which Tigerair will hold a ten per cent stake, is expected to begin operations at the end of 2014.
Fleet details have yet to be confirmed, but the network will cover major destinations in north-east and south-east Asia, Hong Kong, Macau, China and Taiwan.visit