(MENAFN- The Peninsula)
Managua: Nicaragua is to start a new national airline and expand its international airport under a deal with Russia involving Russian aircraft and a loan of up to $300 million state media reported on Thursday.
Government officials did not immediately respond to AFP queries seeking to verify the information.
According to a report by the online news website 19 Digital a cooperation deal with Russia to boost development will go towards extending the runway at Managua's airport and building extra facilities.
Nicaragua's national radar network will also receive investment.
There were no details on how many planes Nicaragua would have in its new national fleet. The country has not had a flag-carrying airline since 1990 when the company Aeronica was bought up by a Central American consortium.
The Russian financing which is to be reimbursed over 40 years was agreed in a meeting in Managua between representatives between both countries that started Monday 19 Digital reported.
AFP