Shareholders: Airline Valued $3.7bn in 2014, Request for Statement of Company’s Affairs Asset Management Corporation of Nigeria (AMCON) has exonerated the Arik Air Receiver Manager, Kamilu Omokide Alaba and insists that the founder of the airline, Sir Arumemi Johnson owed AMCON N240 billion and described him as a bully borrower. This was contained in a […]
Hundreds of intending pilgrims to Saudi Arabia were stranded yesterday at the Muhammad Murtala International Airport(MMIA) Lagos, as the indigenous carrier, Arik Air failed to provide aircraft to airlift them to the Holy Land. The affected intending pilgrims were those scheduled to be carried by the private tour operators under the aegis of Association of Hajj and Umrah Operators of Nigeria (AHUON). Some of the tour […]
Lack of competence and expertise have been attributed to why Nigeria’s prime airline, Arik Air became moribund under the management of Asset Management Corporation of Nigeria (AMCON) and went down from having 3, 258 workers in 2017 to 500 and from 27 aircraft to barely operating five currently. Arik Air was not only the biggest […]
The failure of the Asset Management Corporation of Nigeria (AMCON) to obey the court judgement of March 31, 2023 to render account of its operations in Arik Air since it took over on February 9, 2023 till date, has confirmed allegation that the agency might have grossly mismanaged the airline. In December 2021, the Founder of […]
It has become increasingly difficult for Nigerian airlines to access credit facilities from international financiers as they were wont to do some years ago and as their counterparts all over the world are doing. Running an airline is capital intensive business which needs high capital outlay and many airlines in different countries of the world […]
