The Lagos State High Court has ruled in favour of IRS Airlines Limited in a long-standing insurance dispute involving one of the airline’s aircraft.
Justice K. A. Jose of the Commercial Division delivered the judgment on Feb. 12 in Suit No. LD/3187CMW/2017.
The case arose from the refusal of a consortium of insurance companies to honour an insurance claim filed by the airline.
The claim related to a Fokker 100 aircraft with registration number 5N-SIK owned by IRS Airlines.
The airline argued that it complied with the terms of the insurance policy issued by the defendants.
However, the insurers declined the claim, prompting the airline to seek legal redress.
In the judgment, the court held that the insurers failed to justify their refusal to settle the claim.
The court also rejected the arguments advanced in defence by the insurers.
Justice Jose further dismissed a counterclaim filed by one of the insurers seeking to invalidate the insurance contract.
The court also awarded post-judgment interest of six per cent per annum on the judgment sum until the debt is fully settled.
Reacting, the Managing Director of IRS Airlines Limited, Mr Yemi Dada, described the ruling as a vindication of the airline’s position.
Dada said the judgment affirmed that the insurance claim was valid and that the refusal by the insurers to honour their obligations was unjustified.
He noted that the decision reinforces the importance of good faith and contractual accountability in the aviation insurance sector.
According to him, the sector plays a critical role in supporting safe and sustainable airline operations.
IRS Airlines reiterated its commitment to maintaining high standards of safety, compliance and transparency in its operations.
The airline also expressed appreciation to the court for its careful consideration of the case.
