Exclusive: Tinubu’s airline collapses

Posted by News Express | 26 October 2012 | 5,259 times

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Nigeria’s latest airlines, First Nation, has collapsed less than a year after it began operations.

Owned by former Lagos State governor, Asiwaju Bola Ahmed Tinubu, First Nation started operations early last November but ran into trouble shortly thereafter.

“The staff who didn’t leave on their own were asked to go on compulsory leave; so, in effect, there are no more operations,” an authoritative source close to First Nation told News Express.

News Express learnt that the airlines has also lost its fleet of three A320s to the lessor, Aviation Capital Group.

“The aircraft (5N-FNA, -FNB and -FNC) are likely repossessed; they were re-registered to the US FAA register as N409AG, N466AG and N997AG earlier this month. First Nation Airways suspended its flight operations in June 2012, and ferried at least two A320s to Istanbul for maintenance,” according to the blog Aviation in Nigeria.

It would be recalled that our sister publication, Transport & Business Express magazine, in its June/July 2012 edition exclusively reported danger signals at First Nation.

“First Nation, which started operations early last November, is already contending with serious managerial issues capable of impacting negatively on flight operations and safety. Already, the alleged mismanagement has sparked staff exodus in First Nation, which is believed to be owned by former Lagos State governor, Asiwaju Bola Ahmed Tinubu,” the magazine reported.

It quoted a First Nation staffer who resigned his appointment with the company as saying: “The place was a nightmare for most of us. “Within the last week of May and the first week of June, four key staff resigned and many more had left earlier.”

Source: News Express

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