Billionaire businessman, Barrister Jimoh Ibrahim, has shut down all Air Nigeria flight operations nationwide effective from Monday.
Ibrahim also announced that all but 50 staff have been sacked with immediate effect.
He said the airline will be shut down for one year.
Air Nigeria claimed that it is temporarily shutting down its operation because of staff disloyalty and anti-business environmental in the aviation sector.
The airline said it regrets any inconvenience the decision would cause its passengers on all the routes, adding that it advises them to contact agents from whom they had purchased tickets for refunds.
Ibrahim was quoted as saying that the management remains committed to the survival of the airline.
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