GIA Clears $4m Outstanding Debts

According to the Daily Graphic nwspaper, Ghana International Airline (GIA), which is currently under a new management, has paid an outstanding debt of $4 million incurred by its previous management.

The new management, which is led by Mr G.A.M Azu, has also identified nearly $1.25 million a month potential cost savings avenues.

A release signed by Mr Azu said the airline was in the process of restructuring to the right size? its existing and future operations, adding that the exercise was not going to affect its expansion into the West African sub-region.

Those changes, according to the release, would in the next two weeks, provide additional or better quality services to its passengers.

The release also said, ?of the management team from the United States of America (USA), only the acting Chief Financial Officer (CFO), Mr John Nagel, has left the airline.