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 […]
Asset Management Corporation of Nigeria (AMCON) on Tuesday denied the Founder and chairman of Arik Air Limited, Joseph Arumemi-Ikhide access to the company’s head office at the Murtala Muhammed Airport, Lagos, despite court order granting directors and shareholders of the airline unfettered access to the premises. The Chairman of Arik with some of his aides tried to enter the […]
Asset Management Corporation of Nigeria (AMCON) took over Nigeria’s foremost carrier, Aero Contractors and a promising airline, Arik Air, after taking over Nigeria Airways Limited over issues of debts. Since the takeover of both firms, by AMCON, the airlines have recorded diminishing performance, while their debts continue to rise. After the COVID-19 lockdown was lifted […]
Over the years, Nigerian airlines have failed to successfully operate international routes. Many international carriers, who describe the Nigerian routes as very lucrative, deploy many strategies, including visa denial, to shortchange Nigerian carriers, but Nigerians are the enablers of this perfidy. On Monday Nigeria’s major carrier, Air Peace reported that it would suspend its flight […]
