Thursday, 9 February 2017

BREAKING: FG takes over Arik Airline

The Federal Government of Nigeria has reportedly taken over Arik Airline and also gave a lifeline to keep the financially distressed company moving as a concern in the aviation industry.

Premium Times reports that the Asset Management Corporation of Nigeria, AMCON made the decision to sanitize the country’s aviation sector to prevent a major catastrophe in the country.

Spokesperson of AMCON, Jude Nwauzor who gave more insight into the issue 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 would now be managed by Roy Ilegbodu, a veteran aviation expert, under the receivership of Oluseye Opasanya, a senior advocate of Nigeria.

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