Breaking News: Nigerian Government Takes Over Distressed Arik Airline, Gives Lifeline...See Details


Breaking News: Nigerian Government Takes Over Distressed Arik Airline, Gives Lifeline...See Details Arik Air
The Federal Government on Thursday announced a lifeline to financially distressed Arik Airlines to continue to keep it as a going concern in the aviation industry, Premium Times reports.

The management of the Asset Management Corporation of Nigeria, AMCON, said the decision to intervene clearly underscores the government’s commitment to instill sanity in the country’s aviation sector to prevent a major catastrophe in the country.

“The development will afford Arik Airlines, which is the largest local carrier in the country, to go back to regular and undisrupted operations, avoid job losses, protect investors and stakeholder funds as well as ensure safety and stability in the already challenged aviation sector,” AMCON spokesperson, Jude Nwauzor, said.

Under the new arrangement, the airline would be managed by Roy Ilegbodu, a veteran aviation expert, under the receivership of Oluseye Opasanya, a senior advocate of Nigeria.

More later…

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Chuka (Webby) Aniemeka
Chuka (Webby) Aniemeka

Chuka is an experienced certified web developer with an extensive background in computer science and 18+ years in web design & development. His previous experience ranges from redesigning existing website to solving complex technical problems with object-oriented programming. Very experienced with Microsoft SQL Server, PHP and advanced JavaScript. He loves to travel and watch movies.

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