newstodate.aero
NOV 01, 2004(newstodate): The US Overseas Private Investment Corporation, OPIC, has given Caucasus Airlines a deadline to resolve its ongoing dispute with the Georgian Civil Aviation Administration, or OPIC will exercise its legal options to take control the companys aircraft.
The decision follow on a visit by OPIC representatives to Georgia from October 27 through the 30 aiming at gaining a better understanding of the problems faced by the airline.
After the visit, a legal representative for OPIC expressed her concern that unless this issue is resolved within the nearest future, the ability for Caucasus Airlines to repay its loan to purchase its aircraft is doubtful.
The decision follow on a visit by OPIC representatives to Georgia from October 27 through the 30 aiming at gaining a better understanding of the problems faced by the airline.
After the visit, a legal representative for OPIC expressed her concern that unless this issue is resolved within the nearest future, the ability for Caucasus Airlines to repay its loan to purchase its aircraft is doubtful.