Government and the American shareholders in Ghana International Airlines are close to settling their differences out of court.
The shareholders sued government after the bizarre dismissal of the airline's chief executive and other management staff.
They sought an interim injunction to restrain government from breaching the companies' regulations and shareholders' agreement.
In response, government filed for a stay of proceedings, pending the settlement of the dispute through arbitration.
One of the lawyers for the American shareholders, Kwame Acheampong is optimistic that there would be a breakthrough by Friday when the case is due to be called in court again.
“We have always wanted a smooth settlement. My clients are businessmen and so would be comfortable with any deal so we would consider their proposal, if it is good we would go for it”, he said.