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. […]
After few months of prevarication, THISDAY can authoritatively report that the Ethiopia Airlines has been negotiating management contract for Arik Air, which was taken over by the Asset Management Corporation of Nigeria (AMCON) in February this year owing to the debts owed it by the owners of the airline. THISDAY learnt that Ethiopia Airlines has […]
Last week, there were reports that investors were interested in investing in the airlines which the Assets Management Corporation of Nigeria (AMCON) took over, particularly Nigeria’s biggest carrier, Arik Air. Writer examines the issues leading to the takeover of the airline by AMCON and the implications of its possible sale Minister of Finance, Mrs. Kemi Adeosun, […]