The Federal Commission of Integrity (FCoI) announced on Monday that it successfully facilitated the return of 20 billion dinars to Iraqi Airways Company. The recovery of these funds follows a dedicated effort by a team assigned to address the airline’s debts and financial disputes.
In a statement, the Commission highlighted that the efforts led to the return of 19,153,347,520 dinars from a private company to Iraqi Airways. The private company involved had owed money to the airline for an extended period.
The Commission’s statement further revealed that the private company had formally addressed the FCoI, acknowledging the debt and committing to repay the amount owed. The payment was made in two installments: the first installment amounted to 16,077,320,000 dinars, while the second installment was 3,076,027,520 dinars.
This successful recovery is seen as a significant achievement for the Federal Commission of Integrity, reinforcing its role in addressing corruption and ensuring accountability in state-owned companies like Iraqi Airways. The recovered funds are expected to help strengthen the airline’s financial position and improve its operations moving forward.