AMCON takes over Arik Airline

 

Asset Management Corporation of Nigeria (AMCON) on Thursday announced taken over of Arik Air which has been experiencing difficulties in recent times.
According to the AMCON, the decision to intervene “clearly underscores the government’s commitment to instilling sanity in the country’s aviation sector and prevent a major catastrophe.”
The agency however announced the appointment of a new management in a bid to save the country’s aviation industry from total collapse.
Under the new arrangement, Roy Ilegbodu, a veteran aviation expert, has been named to take over the management of the airline under the receivership of Oluseye Opasanya, a senior advocate of Nigeria.
Besides, AMCON, said the government would give a lifeline to support the financially-distressed Arik Airlines continue as a going concern in the aviation industry.
AMCON spokesperson, Jude Nwauzor, said the government’s decision to intervene clearly underscores a commitment to instill sanity in the country’ 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,” Mr. Nwauzor said.
The Minister of State for Aviation, Hadi Sirika expressed the belief that the development will bring about stability in the airline.