Libya's ministry of finance, has been authorised to buy the shares of the four companies that currently own the Libyan Afriqiyah Aviation Holding Company, LAAHC, that was set up in 2007 and incorporates the Libyan National Social Fund, the Libyan National Investment Company, the Libya-Africa Investment Fund and the Libyan Foreign Investment Company.
LAAHC has Afriqiyah Airways and Libyan Airlines as two of its main subsidiaries.
The takeover would be in line with the government's plans to merge the two airlines of Afriqyah Airways and Libyan Airlines, which are both subsidiaries of LAAHC. The company also owns the Libyan Aviation Supply Company and the Libyan Company for Aviation Handling and Maintenance.
The Libyan National Social Fund and the Libyan National Investment Company are the biggest shareholder in LAAHC, each with 30 percent. Libya-Africa Investment Fund comes next with 25 percent.
(Source: Tripoli Post)
