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References in periodicals archive ?
The company continues to retain its long-held market-leader position in China, although outside the remit of the IATA clearing house system.
The creditors include the IATA clearing house ($7.365m); AJ Walters of the UK, specialised in aircraft spares ($3.986m); Alitalia, specialised in DC-10 maintenance ($6.175m); Atitec, specialised in DC-9 maintenance ($1.7m); ASECNA ($2.053m); SkyJet ($3.474m); and the JFK International Air Terminal ($396,000).
Even though it is Africa's biggest oil producer (and potentially one of its richest countries) government corruption is such that it simply doesn't have the funds to do so and currently Nigerian Airlines has debts of $56m, which led to its expulsion from the IATA clearing house. One of the accusations was that the company had not carried out any reliable verification of its assets and liabilities to foreign and local creditors for years and it had no stock records to speak of.
PAL said its readmission to the IATA clearing house means it can now transact interline traffic arrangements with other carriers, as well as commercial deals such as special pro-rata arrangements, code sharing and joint services, resulting in more competitive fare prices for its clients.