Staff of Arik Air on Thursday kicked against the picketing of the airline’s operations, saying that if the unions really care about the airline, they should seek for its survival first because obstructing its operation in this precarious state is to exacerbate its situation. In keeping with their earlier plan, aviation unions comprising of […]
In this report, Henry Osazuwa takes a critical look at the recent takeover of Arik Air by the Asset Management Corporation of Nigeria and the imperative for a viable financial market in Nigeria Arik Air is an indigenous airline in Nigeria with highest domestic flights, and fledging international air traffic. In 2016, the airline […]
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 […]