Shareholders of Arik Air Limited have filed a N20 billion suit against the federal government and Ethiopian Airlines over recent stories in the media that they were in negotiations on the takeover of the airline.
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Ethiopian Airlines, owned 100 percent by the Ethiopian government, says it has made a bid to the Nigerian government to take over Arik Air, Nigeria’s biggest airline.
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The Major Oil Marketers Association of Nigeria (MOMAN) has appealed to the Federal Government to pay the outstanding fuel subsidy claims to its members to pay back their bank loans.
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Indications reaching the aviation sector yesterday showed that shareholders of Arik Air may have started discussing with a major Dubai based investor to partner with the Nigerian airline, with a view to offsetting the debts owe Asset Management Corporation of Nigeria (AMCON) and other creditors.
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The Asset Management Company of Nigeria, AMCON, has disclosed that it is close to selling Peugeot Automobile Nigeria, PAN, Ltd to Aliko Dangote, and two Nigerian states.
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A likely merger and conversion of assets of Arik Air and Aero Contractors is one of the options being considered by the Federal Government (FG) in the build-up to a new national carrier for the country.
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The Asset Management Company of Nigeria-appointed management of Arik Air has said that as a result of the rot in the airline, it is being forced to make refunds of between N60m and N75m to dissatisfied customers on a weekly basis.
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The Asset Management Company of Nigeria (AMCON) has injected N1.5 billion in Arik Airline Ltd to safeguard its operations since its takeover.
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Some private equity investors are reportedly seriously considering investing in Arik Air and Aero Contractors – two distressed local airlines that have been taken over by the Asset Management Corporation of Nigeria (AMCON).
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Arik Air risks being sold or liquidated by the Federal Government. Already, the Asset Management Corporation of Nigeria (AMCON) has filed an affidavit at the Federal High Court, Lagos in a bid to recover its debts put in excess of N387 billion. It was learnt that government is contemplating selling off or liquidating the airline to recoup its investment in […]
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The Asset Management Corporation of Nigeria (AMCON) has been accused of cannibalising Arik Air aircraft and using the parts to repair the fleet of Aero Contractors. Sources from the airline disclosed that an engine of a Bombardier Dash 8, Q400, was taken away from Arik aircraft with registration, 5N-BKV, and given to Aero to fix in the same aircraft type, […]
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The management of Arik Air says it has resolved the impasse with labour unions, which affected it operations on Thursday. The airline said the impasse, which was led by the Lagos State branch of National Union of Air Transport Employees (NUATE), Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and National Association of Aircraft Pilot and Engineers (NAAPE) was […]
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