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Finally FG Takes Over Arik Air

arik-air-planeThe Federal Government has finally taken the bull by the horns to bail out the financially distressed Arik Air.

It was announced today the airline urgently require a lifeline to keep the financially distressed carrier flying.

The Asset Management Corporation of Nigeria (AMCON) said the decision to intervene clearly underscores the government’s commitment to instil sanity in the country’s aviation sector to prevent a major catastrophe in the country.

“The development will afford Arik Airlines, which is the largest local carrier in the country, to go back to regular and undisrupted operations, avoid job losses, protect investors and stakeholder funds as well as ensure safety and stability in the already challenged aviation sector,” AMCON spokesperson, Jude Nwauzor, said.

Under the new arrangement, the airline would be managed by Roy Ilegbodu, a veteran aviation expert, under the receivership of Oluseye Opasanya, a senior advocate of Nigeria.

Operatives of the Economic and Financial Crimes Commission (EFCC) on Wednesday visited the airline’s headquarters in Lagos and held a brief meeting with Arik Chairman, Joseph Arumemi-Ikhide.

Similarly aggrieved passengers on Wednesday afternoon shut the airline’s office within the Murtala Muhammed Airport, Lagos over non-refund of their ticket fares.

No fewer than 20 passengers besieged the office for over three hours demanding for a refund of their fares following the cancellation of their flights.

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