Pete Air Company Ltd. Announces Official Name Change to ‘NokScoot Airlines Company Ltd.’ and Appoint

Nok Airlines Public Company Ltd., Scoot Pte Ltd. and Pueannammitr Company Ltd., made a purchase of shares of Pete Air Company Ltd. on June 19, 2014.

The name change to NokScoot Airlines Company Ltd. was filed on August 19, 2014, and became effective on August 20, 2014. Scoot Pte Ltd. and Nok Airlines Public Company Ltd. both intend to subscribe to 49% of shareholding in NokScoot.

The company is also pleased to announce the appointment of Piya Yodmani as the airline's chief executive officer. Leading NokScoot with more than 20 years of experience in the airline industry, Mr. Piya has held leadership positions at THAI Airways International Public Company Ltd, and Nok Air.

"The current competition in the low cost airline market is intense, with passengers having a wide variety of choices for destinations and airlines. This is the current challenge for low cost airlines which we keep in mind. With my vast experience in the airline industry, I am confident and committed to provide passengers with the highest value for their fare, including the quality of service and comfort, transparency and a whole different flying experience. We expect to begin operations in the first quarter of 2015," states Mr. Piya.

Patee Sarasin, chief executive officer of Nok Air, has also been appointed as the chairman of executive committee of the Board.

"Our hope is that NokScoot will be trusted and loved by passengers as they do with Nok Air in the past 10 years as the number one premium low cost airline of Thailand. The joint venture between Scoot and Nok Air to launch NokScoot, will enhance and synergize our route network, to be more competitive in the market and offer passengers with more choices in the future," states Sarasin.

NokScoot will operate flights with a fleet of Boeing 777-200 aircraft from Bangkok's Don Mueang International Airport to medium to long haul destinations.