Singapore Airlines Says NokScoot’s Board Decides on Liquidation

Singapore Airlines Ltd. announced that NokScoot Airlines Co.’s board of directors has passed a resolution to liquidate the carrier, the company said in a filing Friday.

• NokScoot’s shareholders will consider the resolution at a general meeting to be held in 14 days
• NokScoot’s liquidation will result in SIA recording a total one-off charge of S$123.6 million for the first quarter ending June 30
• This comprises a S$106.9 million charge mainly due to impairment of SIA’s book value of seven Boeing 777-200 aircraft leased to NokScoot, and provisions by Scoot of S$16.7 million to cover its share of liquidation and related ...