For transforming a mere dream to reality, the aviation industry at the weekend was agog for Nigeria’s oldest airline, Aero Contractors when it rolled out and celebrated its successful conduct of c-check on Boeing 737 classic, the second in the history of Nigeria after the defunct Nigeria Airways Limited. The Boeing B737 aircraft […]
The Asset Management Corporation of Nigeria (AMCON) has severally turned down the plan to use Nigeria’s oldest carrier, Aero Contractors national carrier. Inside sources said that AMCON management turned down the request to use the airline and Arik Air, arguing that the debt overhang in the airlines would not make such start up feasible because […]
By the time Asset Management Corporation of Nigeria AMCON took over the management of Aero Contractors in early 2016, the hitherto foremost airline was at its nadir. There was no money to run the airline; the aircraft in its fleet were largely moribund and in dire need for maintenance. Besides, the labour unions were restive […]
Former Vice-Chairman of Arik Air, Senator Anietie Okon has alleged that some interests in government had planned to take over Arik Air and sell it cheaply to themselves but this was forestalled by Asset Management Corporation of Nigeria (AMCON), which is currently managing the airline. Senator Okon said the interest group took advantage of the […]
The controversy rocking Nigeria’s major carrier, Arik Air may soon be over as the shareholders are now deeply in discussion with a major investor, who would take over significant shares from the company and provide the funds to offset the debts of the airline owed to Asset Management Corporation of Nigeria (AMCON) and other creditors. […]