Nigerian Eagle Airlines To Be Sold To Nigerian Investors
Nigerian Eagle Airlines (formerly Virgin Nigeria), which is 49 percent owned by Virgin Atlantic, plans to sell equity and reorganize its debt in a transaction worth about $450 million, said Ernst & Young, which is advising the company. The deal will be completed by the end of the summer. A number of investors and companies have shown interest in buying the stake, all of which are based in Nigeria. Jimoh Ibrahim is allegedly one of the interested investors. The airline is also trying to sell the seven EMB-190s it has on order.