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‘Why under-capitalised carriers default on financial pact’
As air travel volume has more than doubled in the past 15 years in response to a growing global economy, airlines are finding it increasingly difficult to meet up with their financial obligations, Woleshadarenews has learnt. In Nigeria particularly, the carriers’ under-capitalised status has made them to default on aircraft lease, maintenance and to the various aviation agencies. Many of them are grossly under-capitalised to less than N500 billion; a situation that has led to…
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