Home Business Arik Air challenges AMCON takeover
Business - February 10, 2017

Arik Air challenges AMCON takeover

Arik Air challenges AMCON takeover
An Arik Aircraft

The management of Arik Air has said it will challenge the takeover of the airline by the Assets Management Company of Nigeria (AMCON) in court says Newsverge.

The Senior Vice President, Operations at Arik Air Capt. Ado Sanusi, said this at a news briefing with the newly appointed receiver Manager, Mr Oluseye Opasanya (SAN), and the airline’s technical consultant, Capt. Roy Ilegbodu.

Captain Sanusi, said the Arik management had been served with a valid court order empowering AMCON to take over the affairs of the airline to which it has complied so that Arik Air would continue to run without any disruption.

The Corporate Communications Department of the agency, revealed in a statement that the company has been immersed in heavy financial debt burden that was threatening to permanently ground the airline.

“The move, which clearly underscores government’s decision to instill sanity in the nation’s aviation sector has also prevented a major catastrophe that would among other factors protect, and preserve Arik Airlines as a going concern.” AMCON further revealed.

Leave a Reply

Your email address will not be published. Required fields are marked *