Abraaj to 'vigorously' fight Air Arabia suit | ZAWYA MENA Edition:
Abraaj Holdings will "vigorously" fight the case filed by Sharjah-based carrier Air Arabia last week against the private equity firm and its founder Arif Naqvi, said Habib Al Mulla, executive chairman and managing partner of Baker McKenzie Habib Al Mulla, who is representing the equity group and its founder.
The low-cost carrier last week announced that it had filed a misdemeanor case against Naqvi.
In July 2018, Air Arabia had announced a Dh1.23 billion exposure to Abraaj and funds managed by the company. However, it stressed that this issue "has no significant impact on the carrier's business or on its operations."
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