The story
It was established in 1994 and started operations in July 2000. The Nigerian government set a deadline of 30 April 2007 for all airlines operating in the country to re-capitalise or be grounded, in an effort to ensure better services and safety. Seven airlines failed to meet the deadline and as a result would not be allowed to fly in Nigeria's airspace with effect from 30 April 2007. These were: ADC Airlines, Fresh Air, Sosoliso Airlines, Albarka Air, Chrome Air Service, Dasab Airlines and Space World Airline. The affected airlines would only fly when they satisfied the Nigerian Civil Aviation Authority (NCAA)’s criteria in terms of re-capitalization and thus be re-registered for operation.
From Wikipedia’s article on Sosoliso Airlines, shared under CC BY-SA 4.0.3