Virgin Atlantic is to withdraw its brand name and sell its stake in Virgin Nigeria.

Virgin Airlines has announced it is planning to remove its name from Nigeria’s national airline, Virgin Nigeria, and will sell its stake in the company.

Virgin Atlantic initially bought a 49% stake in the troubled airline for $25 million (£15m) in 2004, after it had brokered a deal with the then President Olusegun Obasanjo. Nigerian investors made up the remaining monies in order to set up a flag carrier airline.

The deal, however, has been arduous for one of the world’s biggest long-haul airlines, as it has come up against issues beyond its control. In January 2008, Sir Richard Branson was forced to appeal directly to President Yar’Adua to intervene in a directive that was forcing the eviction of Virgin Nigeria from its base in Lagos airport. However, it was to no avail and passengers were witnesses to hammer-wielding men demolishing the flight lounge.

According to the BBC website, an unnamed Virgin Atlantic source said that the Nigerian company would have until July to rebrand itself.

In January this year, Virgin Nigeria announced that it would be suspending all long-haul flights as a short-term strategy in order to “review the entire long-haul operations”.

Virgin Atlantic will continue to fly into Lagos airport.