Nigerian govt offers lifeline to troubled Arik Airlines

Nigerian govt offers lifeline to troubled Arik Airlines

Feb 10, 2017: The Nigerian government announced a lifeline to financially distressed Arik Airlines to continue.

The management of the Asset Management Corporation of Nigeria (AMCON) said the decision to intervene clearly underscores the government's commitment to instill sanity in the country's 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, according to AMCON spokesperson, Jude Nwauzor.

Under the new arrangement, the airline would be managed by Roy Ilegbodu, a veteran aviation expert, under the receivership of Oluseye Opasanya, a senior advocate of Nigeria.

Related Posts

Cathay Pacific lays off  600 jobs to reorganise head office

Cathay Pacific lays off 600 j ...

May 22, 2017: Cathay Pacific has announced that it will lay off around 600 people in its head office. This i ...

Cathay Pacific signs codeshare agreement with Iberia

Cathay Pacific signs codeshare ...

May 22, 2017: Cathay Pacific today announced a new codeshare agreement with oneworld partner Iberia, which w ...

Volga-Dnepr airlines deliver 11 generators to Antananarivo, Madagascar

Volga-Dnepr airlines deliver 1 ...

May 22, 2017: Volga-Dnepr Airlines has delivered eleven generators onboard a series of six An-124-100 freigh ...

UPS roped in as official logistics operator for World Expo 2020

UPS roped in as official logis ...

May 22, 2017: Expo 2020 has selected UPS to handle the logistics operations for World Expo 2020 Dubai, which ...