Scoot and Nok Air to set up budget airline NokScoot

Singapore's Scoot and Thailand's Nok Air have recently agreed to set up joint-venture airline NokScoot in Bangkok's Don Mueang Airport, in a bid to provide more medium and long-haul flight services.

Scoot will own 49 percent, while Nok Air will hold the other 51 percent of the shares for the $78.4 million dollar budget service.