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Nigeria Airways Is Bankrupt

Sat Jul 10, 2004 7:29 pm

A Court has ordered Nigeria Airways into liquidation. The airline owed N54.241 billion.
http://www.thisdayonline.com/news/20040710news02.html
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soups
Posts: 3220
Joined: Thu Jun 03, 2004 6:41 pm

RE: Nigeria Airways Is Bankrupt

Sat Jul 10, 2004 7:33 pm

i will have to say FINALLY for that WT is an airline that rarely fles and it it does their flights are almost cancelled or delayed of a minimum of 12 hours
Next destinations, Suarabaya, beirut, paris, Accra
 
EurostarVA
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RE: Nigeria Airways Is Bankrupt

Sat Jul 10, 2004 9:59 pm

This is not news as the airline ceased operations months ago (stopping their erratic domestic flights with their sole 737-200 at the time).

The nigerian government has floated many ideas about creating a new national airline, and has failed in every attempt to produce something tangible, always going in circles with new investors, ditched plans and hair-raising beauraucratic problems.... good luck finding investors now after 3 failed attempts (with SAA being the last, genuine airline to have bid, won and then simply thrown out only because SAA refused to grant nigerian investors 10% stake in SAA in return for SAA's investment in Nigerian Eagle Airlines. Wasnt this an exercise to sell NEA and not SAA?!?!?! typical Nigerian politics hampering development and progress).

If there is a will, there is a way
 
soups
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Joined: Thu Jun 03, 2004 6:41 pm

RE: Nigeria Airways Is Bankrupt

Sat Jul 10, 2004 10:52 pm

anybody knows when was WT last flight (international) i know they served LHR JFK DXB JNB
Next destinations, Suarabaya, beirut, paris, Accra
 
jasepl
Posts: 3499
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RE: Nigeria Airways Is Bankrupt

Sat Jul 10, 2004 11:10 pm

Apparently, its not just politics. Seems that Nigerians just don't like to fly a local airline.
 
soups
Posts: 3220
Joined: Thu Jun 03, 2004 6:41 pm

RE: Nigeria Airways Is Bankrupt

Sat Jul 10, 2004 11:13 pm

they dont like to fly their national airline caue they arrive 4 days later
Next destinations, Suarabaya, beirut, paris, Accra
 
jasepl
Posts: 3499
Joined: Wed Jul 07, 2004 3:15 pm

RE: Nigeria Airways Is Bankrupt

Sat Jul 10, 2004 11:18 pm

Soups... Ha ha! If they arrive at all, that is!

Cheers,

Jason
 
jasepl
Posts: 3499
Joined: Wed Jul 07, 2004 3:15 pm

RE: Nigeria Airways Is Bankrupt

Sat Jul 10, 2004 11:23 pm

Just wondering, do they have recourse to public money à la United etc? Not that I'm saying UA's a basket case like WT, but...
 
5NEOO
Posts: 205
Joined: Mon Nov 24, 2003 4:16 am

RE: Nigeria Airways Is Bankrupt

Sat Jul 10, 2004 11:35 pm

Apparently, its not just politics. Seems that Nigerians just don't like to fly a local airline.

Not exactly true. We have a wide option of local carriers that we patronise on the domestic front. Unfortunately for us, the government has refused to allow them service PRIME international routes, only relegating them to the likes of Freetown, Monrovia and other "on the edge of disintegration" nations.



Admit it, you could care less about the continent Africa!
 
AF022
Posts: 1633
Joined: Fri Dec 26, 2003 10:41 pm

RE: Nigeria Airways Is Bankrupt

Sat Jul 10, 2004 11:52 pm

what is the word on SAA's investment in Nigerian Eagle? I heard it was on the ropes? just rumour?
 
jasepl
Posts: 3499
Joined: Wed Jul 07, 2004 3:15 pm

RE: Nigeria Airways Is Bankrupt

Sun Jul 11, 2004 12:15 am

for us, the government has refused to allow them service PRIME international routes

Eyitayo,

What's up with governments anyway? The Nigerian one won't let WT fly anywhere it can make money. The Indian one won't let anyone but AI fly anywhere money's to be made. This whole miasma of government interference where its just not needed is really sad. Its as if they haven't anything else to do.
 
soups
Posts: 3220
Joined: Thu Jun 03, 2004 6:41 pm

RE: Nigeria Airways Is Bankrupt

Sun Jul 11, 2004 1:33 am

WT can make a fortune all airlines rervice nigeria are making huge profits, hope GH doenst follow WT as its starting to make a bit of p[rogress now
Next destinations, Suarabaya, beirut, paris, Accra
 
EurostarVA
Posts: 1205
Joined: Thu May 16, 2002 12:24 am

RE: Nigeria Airways Is Bankrupt

Tue Jul 13, 2004 4:10 am

Oh yes, and finally, this disgrace of an airline is being liquidated.

The SAA bid was thrown out. Simple. Reason: SAA inability to sell 10% of its shares to Nigerian investors as a reciprocity condition imposed by the Nigerian Government "in the spirit of NEPAD (African Cooperation agreement).
SAA's clear position position on this is that it is a Government-owned airline through Transnet and as such, cannot decide or modify its ownership structure before a decision on privatization. The Nigerians of course knew this but were desperate to find an excuse out of what was almost a done deal.

My own theory on this is that the Nigerian president Olusegun Obasanjo got frustrated at South Africans in general after he was insulted during a South African live radio talkshow (Someone called in to ask him if he smuggled some dope from Nigeria).
This, coupled with another theory of mine that Obasanjo was lured by Richard Branson's offer to set up a new national airline QUICKLY And this my friends will be confirmed tomorrow (check the Nigerian dailies tomorrow www.ngrguardiannews.com and www.thisdayonline.com) the Aviation Minister will be holding a press conference.

Don't hold your breath though because in Nigeria absolutely NOTHING is planned correctly yet alone implemented.

Regards,
Hani
If there is a will, there is a way