Imperial backs out of aviation

IMPERIAL Holdings has sold its aviation division for R541.6-million (US$56 million). Imperial says that it is withdrawing from all non-core businesses despite.

Aside from its 62 per cent stake in the general aviation sales and service organisation, National Airways Corporation, Imperial has now sold the Irish-based airfreight business, Air Contractors group and the South African freight and aircraft leasing interests, Safair and Safair Lease Finance.

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