Dubai – Mubasher: Air Arabia is set to adopt a raft of measures to ensure the safety of its investments at Abraaj Group after the latter filed for a restructuring, which will be supervised by a court.
The Emirati carrier has picked a team that is engaged with relevant stakeholders and creditors to ensure the security of its investments, according to an official statement.
Abraaj has been facing many ebbs on the back of money misusage allegations.
Earlier in June, the group was accused of mishandling a $1 billion healthcare fund and audits discovered that the UAE-based company commingled investor funds with its own money in the healthcare fund.
All Rights Reserved - Mubasher Info © 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info).