Air Nigeria makes its final long-haul flights on Monday after announcing the suspension of all services and laying off 800 staff last week.
Investors behind the airline have struggled to deal with $250m (£157m) of debt taken on when they bought the carrier from Virgin two years ago.
In June, Air Nigeria was grounded by regulators amid safety concerns.
If the airline can resolve its debt problems, it could yet return to the skies, analysts said.
The grounding of services by the country's aviation regulator followed a crash in June, involving a jet operated by Dana Air, which smashed into an apartment block in Lagos, killing 163 people.
Although an investigation into the crash is still ongoing, Dana has been given permission to start flying again.
Last week, the global air transport body IATA said the most pressing problem for African aviation is safety, with the continent's record of accidents nine times the worse than the global average.
The demise of Air Nigeria leaves the country with just four domestic carriers operating scheduled flights, a blow for efforts to develop the country's economy.
According to IATA, African aviation supports seven million jobs and business activity worth nearly $68bn.
Meanwhile, Nigeria's government is considering a strategy to create another national carrier.
if u attack my papa house, I'll retaliate but if you are peace loving,I will embrace you
Posted: at 11-09-2012 05:21 AM (12 years ago) | Hero
Wen will nigeria govt ever have wat we call continuity? Virgin nigeria was flying dis for year, no problem. Govt took it for only two year, it has ground complaining of debt. I hail u my naija govt and its corrupt citizens.
Posted: at 11-09-2012 05:44 AM (12 years ago) | Addicted Hero
dlimelite at 11-09-2012 06:47 AM (12 years ago) (f)
It was bound to happen cuz corruption, stealing, nepotism, etc. would never allow it to work. When will something good come out of that country? It's a pity that 52 years after inependence and still no progress of any division whatsoever
Posted: at 11-09-2012 06:47 AM (12 years ago) | Hero
creating another airline is creating another avenue to steal more money, the grounded nigeria airway is founded long before those stupid that wrecked it come of age, vagabonds in power
Posted: at 11-09-2012 07:22 AM (12 years ago) | Grande Master
creating another airline is creating another avenue to steal more money, the grounded nigeria airway is founded long before those stupid that wrecked it come of age, vagabonds in power
Posted: at 11-09-2012 08:35 PM (12 years ago) | Grande Master
We are all victims of privatization. Nigeria Airways was ruined first and then sold to friends then came all these phyuking shit private airlines. Thieves are not governed by reasons.
Posted: at 13-09-2012 06:02 AM (12 years ago) | Gistmaniac
aso4life1 at 13-09-2012 07:45 AM (12 years ago) (m)
Quote from: papadip on 13-09-2012 06:02 AM
We are all victims of privatization. Nigeria Airways was ruined first and then sold to friends then came all these damning sh*t private airlines. Thieves are not governed by reasons.
You are right.
if u attack my papa house, I'll retaliate but if you are peace loving,I will embrace you
Posted: at 13-09-2012 07:45 AM (12 years ago) | Hero
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