Wednesday, April 14African Business News
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Tag: 5N

Local airline to sell asset despite investor’s lawsuit

Local airline to sell asset despite investor’s lawsuit

Aviation
The management of Med-View Airline Plc has said the plan to sell-off some of its assets was still in place despite a lawsuit challenging it move at the Federal High Court, Lagos. The airline said notwithstanding the claims of its Saudi investor, Abdul Mohsen Al-Thunnayan, the financing bank, First Bank Nigeria, has the sole right to liquidate the asset. Al-Thunnayan filed a suit at the Federal High Court, Lagos, challenging the move by Med-View Airline Plc to sell-off Boeing 737-400 aircraft with registration 5N-MAA in Estonia and another, 5N-MAB, in Lagos. The investor, who also doubles as the Chairman of Med-View, said he was neither aware of the board meeting nor a party to the decision to sell two aircraft as part of measures to pay some debts and revive the commercial air...