Thursday, November 24, 2022
HomeNewsAfricaNigeria Air grounded, with $250m investment in limbo after court decision

Nigeria Air grounded, with $250m investment in limbo after court decision

Under the arrangement, Ethiopian owns a stake of 49% while MRS Oil and Gas and Skyway Aviation Handling Company Plc (SAHCO) – both Nigerian investors – own 46% of Nigeria Air. The Nigerian government will control the remaining 5%.

However, a Federal High Court in Lagos – according to documents seen by The Africa Report – has given an order of interim injunction restraining the Nigerian government from executing the proposed establishment of Nigeria Air, which has already been issued an operating licence.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments