Ibom Air secures government funds for fleet and network expansion

Ibom Air has acquired $30.5 million from the government for fleet and network expansion. The airline has confirmed that it is not a new investment but a part of the funds used for the pre-delivery payments for aircraft order. A resolution taken at the Ibom State Executive Council (SEC) meeting approved $30.5 million capital into equity conversion for the carrier. Announcing the recapitalisation, Ini Ememobong, the commissioner for information and strategy, said it was part of the decisions reached at the state executive council meeting, which was presided over by the governor. According to sources, the airline is expecting delivery