Will Air Nigeria find a new owner?
Air Nigeria suspended all its operations today. According to some reports, the Asset Management Corporation of Nigeria (AMCON) is considering to take over Air Nigeria’s debts and to merge the airline with Aero. AMCON was already approached by United Bank for Africa to take over Air Nigeria’s non-performing loans estimated to exceed N35 billion. UBA owns the two E190s operated by Air Nigeria. Another, rather unlikely, scenario is that the airline will be sold to new investors for a sum of $200 million.