FG To Take Over Arik Air

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Arik Air

The Federal Government has offered to take over distressed airline, Arik Air and announced lifeline to help keep the company afloat.

According to reports, the management of the Asset Management Corporation of Nigeria (AMCON) explained that the government’s decision is in line with its desire to sanitize the country’s aviation sector to prevent a major catastrophe in the country.

AMCON spokesperson, Jude Nwauzor said

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,

The airline will now be managed by Roy Ukpebo Ilegbodu, an aviation expert, under the receivership of Oluseye Opasanya, a senior advocate of Nigeria (SAN).

In a statement, the Minister of State on Aviation, Hadi Sirika, expressed the belief that the development will bring about stability in the airline.

“We believe that this appointment is timely and will stabilise the operations of the airline. This will enhance the long term economic value of Arik Air and revitalize the airline’s ailing operations as well as sustain safety standards, in view of Arik Air’s pivotal role in the Nigerian aviation sector.”

Sirika also pledged that the ministry of aviation would support the new management of the airline and ensure that all necessary steps are taken to ensure that there would be no undue disruption on Arik’s regular business operations.

 

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