Ibru family moves to repossess Airline There are indications that Nigeria’s oldest airline, Aero Contractors, is laying off about 60 per cent of its workforce, in an apparent move to cut costs as the company struggles to stay afloat. The layoffs to be executed in few days, was aimed at repositioning the airline to operate profitably. […]
Industry experts have expressed worries that Nigeria’s biggest carrier, Arik Air may go under in the next few months and over 3000 workers directly employed by the airline will lose their jobs; unless the airline is taken over by efficient management with international experience. THISDAY learnt that the initial plan prior to its take-over by […]
Says AMCON cooking up debt figures to justify Arik take-over Blames weakened naira for debt profile Founder of Nigeria’s biggest carrier, Arik Air, Joseph Arumemi-Ikhide, has said the take over of the airline by the Asset Management Corporation of Nigeria (AMCON) in a “commando style” was a bad signal to investors. Arumemi-Ikhide also accused AMCON […]
The new management of Arik Air has announced that the airline has suspended flights to London and Lagos. In a statement made available by the media consultant of Asset Management Corporation of Nigeria (AMCON), Simon Tumba, the airline said it has the intention to stop all international flights “to enable us find permanent solution facing […]
The new management of Arik Airlines has appointed KPMG, world-class financial experts to undertake a forensic and diagnostic audit of the finances of the airline to ascertain the true status of its finances. This was disclosed in a statement issued by Simon Tumba of SY&T Communications Limited, media consultant to Asset Management Corporation of Nigeria […]