AMCON takes over Arik Air for FG

Spokesperson of the Asset Management Corporation of Nigeria (AMCON), Jude Nwauzor said the federal Government has taken over Arik Airlines.

The government also appointed a new management for the airline as it will give a lifeline to support the airline which has been struggling financially.

Nwauzor said the government interfered to save the country’s aviation sector from collapsing.

“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,” Mr. Nwauzor said.

Roy Ilegbodu, a veteran aviation expert, has been named to take over the management of the airline.

Arik which is the major airline in the country has been faced with challenges lately, leading to indiscriminate cancellation of flights.

According to AMCON, the airline has a backlog of unpaid salaries.

Minister of State for Aviation, Hadi Siriki, said the government’s decision to take over the management of Arik Airlines would stabilise its operations, enhance its long term economic value, revitalise its ailing operations, and sustain safety standards, in view of its pivotal role in the Nigerian aviation sector.

“All necessary steps have been taken to ensure that there would be no undue disruption on Arik’s regular business operations or activities of other stakeholders, on account of the recent changes in the leadership and management of Arik Airline,” the minister said.

Operatives of the Economic and Financial Crimes Commission (EFCC) had earlier visited the airline on Wednesday.