Posted by Transport & Business Express | 5 July 2012 | 2,827 times
It is a case of from bad to worse for Air Nigeria as the embattled airline has lost four aircraft due to indebtedness.
“Lessors have repossessed four Boeing 737-300 aircraft in its fleet over non-payment of accumulated monthly rentals,” reports Daily Independent.
The newspaper disclosed that General Electric Commercial Aviation Services (GECAS), one of Air Nigeria’s lessors, “has reviewed the financial exposure of the airline and has terminated the leasing agreements for the four Boeing 737 aircraft it leased to the beleaguered airline. The four aircraft are registered as: 5N- VNC, 5N -VND, 5N- VNE and 5N- VNJ.”
It would be recalled that Air Nigeria’s local operations have been suspended for weeks by the Nigeria Civil Aviation Authority (NCAA) over poor finances capable of compromising safety.
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