The airline has also accepted the resignation of two of its directors, Mr. Ayodeji AriyoGbeleyi and Alhaji Oladode Kachet Oyedele.
The airline gave this information to its shareholders, the Nigerian Stock Exchange (NSE) as well as other Board members at a meeting held yesterday, 23rd July, 2020.
The airline according to information gathered will sell its Boeing 737-4D7 with registration 5N-MAA which is in Estonia as well as Boeing 737-4D7 with registration 5N-MAB in Lagos.
The airline is also seeking approval of the return of the leased aircraft engine from lessor, Aeolus Engine Services Ireland to enable it preclude the payment of additional rent; engine number CFM5G3CI SN857871.
A source close to the airline in a reaction to Nigerianflightdeck confirmed the development stating,” It is true. We needed to get funds to re-engineer our business and that is why we are doing this. We will come out of it.”