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As part of government plans to merge the two carriers Libyan Airlines and Afriqiyah Airways, the finance ministry has been authorised . . .[restrict]to buy the shares of the four companies that own the Libyan Afriqiyah Aviation Holding Company (LAAHC). Libyan Airlines and Afriqiyah are subsidiaries of LAAHC.
The four companies are: The Libyan National Social Fund (30 percent), the Libyan National Investment Company (30 percent), the Libya-Africa Investment Fund (25 percent), and the Libyan Foreign Investment Company (15 percent).
Libyan Afriqiyah Aviation Holding Company was set up in 2007 with a capital of one billion Libyan dinars. In addition to the two airlines, it also owns the Libyan Aviation Supply Company and Libyan Company for Aviation Handling and Maintenance.
Libya’s third airline, the independent Buraq Air, is largely owned by Qaddafi’s wife, Safia Farkash. Its fleet are currently still grounded.
Libyan Airlines and Afriqiyah aircraft are already being used interchangeably on flights within and outside the country. [/restrict]
