NAIROBI, Kenya--()--Further to the press comment made by the UK’s Sunday Times newspaper (“EasyJet’s chairman quits after Stelios rows”, Section 3: Business, Page 1), Five Forty Aviation Ltd (“the Company”) confirms that it has instructed its lawyers to recover an acknowledged debt of $6.8m from Lonrho Aviation (B.V.I) Ltd.
On 9 January 2013, lawyers representing Five Forty Aviation Ltd wrote to Lonrho Aviation (B.V.I) Ltd to recover $6,783,551.67 for the acknowledged debt owed to the Company. The debt relates primarily to the financial support given to Fly540 Tanzania as well as branches in Angola, Ghana and elsewhere operated by Lonrho Aviation (B.V.I) Ltd. This debt does not relate to monies owed to individuals or any executive of Five Forty Aviation Ltd.
Lonrho Aviation (B.V.I) Ltd acknowledged this debt in a letter, dated 22 March 2012, to PricewaterhouseCoopers Ltd.