Monday 18, June 2018 by Kudakwashe

Air Arabia working to protect investment in Abraaj

Abraaj's founder Arif Naqvi is a board director of the Middle East low-cost carrier, according to Air Arabia's website

  

Dubai Financial Market listed Air Arabia has appointed a team of experts who are actively engaged with all stakeholders and creditors involved with the matter to ensure Air Arabia's investment and business interest is protected.

The said low cost airline revealed it has an investment in Abraaj funds, without elaborating further on its exposure to the private equity group which last week filed an application for provisional liquidation.

Stocks in Air Arabia were down seven per cent on Monday because of the link between the airline and the Dubai-based private equity firm, reported Reuters.

 

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