Dotun
2nd Sep 2004, 11:01
" THE Federal Executive Council yesterday approved Virgin Atlantic Airlines as the strategic/technical investor for Nigeria's flag carrier.
To be called Virgin Nigeria Airlines, the new flag carrier will have an equity of $50 million.
Virgin Atlantic Airlines is a private global airline owned by British entrepreneur, Richard Branson who two weeks ago met President Olusegun Obasanjo at Aso Rock Villa, Abuja.
Virgin Atlantic edged out South African Airlines, which had earlier won the bid early in the year but pulled out upon Obasanjo's insistence that Nigerians take a minimum of 10 per cent of its equity when the South African national carrier is privatised. Following intervention by Pretoria, South African Airlines was allowed to participate in the second bid, which has been won by Virgin Atlantic Airlines. "
To be called Virgin Nigeria Airlines, the new flag carrier will have an equity of $50 million.
Virgin Atlantic Airlines is a private global airline owned by British entrepreneur, Richard Branson who two weeks ago met President Olusegun Obasanjo at Aso Rock Villa, Abuja.
Virgin Atlantic edged out South African Airlines, which had earlier won the bid early in the year but pulled out upon Obasanjo's insistence that Nigerians take a minimum of 10 per cent of its equity when the South African national carrier is privatised. Following intervention by Pretoria, South African Airlines was allowed to participate in the second bid, which has been won by Virgin Atlantic Airlines. "