Minister of Aviation and Aerospace Development, Festus Keyamo, announced a breakthrough following the Federal Executive Council’s approval of a comprehensive settlement regarding a 20-year legal and financial dispute with Bi-Courtney Aviation Services Limited.
Under the new agreement, Bi-Courtney completely wrote off a massive N132 billion judgment debt and interest claim against the government.
In exchange, the government removed exclusive clauses and restored specific concessions, allowing the federal administration to finally earn revenue from the Murtala Muhammed Airport Terminal Two (MM2) operations.
He also highlighted a major upcoming initiative to establish an aircraft leasing company backed by international investors to tackle domestic fleet constraints. With local airlines struggling against foreign dominance, these collaborative steps are designed to generate high-quality jobs, modernize airport infrastructure, and empower Nigerian carriers to reclaim market share
More details shortly…
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