Using central-bank foreign-currency data, The analysis finds Berniq received $100.6 million over seven months, more than half of the aviation-sector total. This investigation frames the concentration as a competition and allocation-governance question rather than conclusive evidence of wrongdoing.

USD 100.6m · 52%

USD 100.6m — 52% of aviation-sector foreign-exchange financing over seven months

The $100.6 million aviation allocation

Berniq was attributed $100.6 million—about 52% of recorded aviation-sector foreign-exchange financing over seven months—while public airlines received far smaller amounts. The concentration is material, but it cannot be judged without activity and cost denominators.

Berniq’s $100.68 million divided by the stated $191.96 million sector total equals about 52.45%. Afriqiyah’s $8.26 million and Libyan Airlines’ $1.44 million sum to $9.70 million, making Berniq’s figure more than ten times the two public carriers combined. The comparison is arithmetically clear but still mixes business scale with ownership type unless flights, fleet and contractual obligations are added.

How the 52% share was constructed

A private airline may legitimately require more dollars if it operates more aircraft, routes or leased capacity. Public airlines may be constrained by fleet serviceability or other funding channels. The test is dollars per verified flight, seat, passenger kilometre and major contractual obligation.

Scale, route network and concentration

Market share in foreign-exchange access does not establish favouritism or misconduct. Ownership records, application timing, documentation quality, correspondent access and operational data are needed before a competition conclusion can be made.

The aviation records needed for a fair test

The central bank should apply published service standards and comparable documentation rules across airlines. Civil aviation and competition authorities should assess market access, safety, slots and route rights alongside foreign-exchange financing.

Publish airline financing by purpose and execution, fleet in service, flights, seats, passenger kilometres and lease or maintenance obligations. Identify related owners and suppliers where law permits, and give every carrier the same correction process.

The timeline that belongs beside the 52%

Berniq was founded in 2018 and began operations in March 2021. The original record notes agreements announced in May and July 2024 for six Airbus A320neo/A321neo aircraft, while stating that the 2025 figure was not evidence of payments for those aircraft. It also places Berniq’s 2024 FX total at about $87.455 million, below the seven-month 2025 figure of $100.68 million.

A separate set of figures for the Bank of Commerce and Development—about $1.38 billion in 2024 and more than $670 million through July 2025—describes the bank’s overall customer channel, not money received by Berniq. Keeping the airline and bank denominators separate prevents a large banking total from being misread as company financing.

Editorial method: This investigation rebuilds the original calculation from the linked public records, preserves the source period and transaction stage, and separates documented figures from estimates, interpretation and allegations.

Mohamed Algarj