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Why We Took Over Arik Air – AMCON

by Bisi Adewale
Arik Air

Why We Took Over Arik Air – AMCON

 

Asset Management Corporation of Nigeria AMCON is a body set up by the government to see to the well being of aviation sector.

Arik Air

Arik Air

As reported by Sahara reporter  Mr. Opasanya who is the Receiver Manager said the reason why the federal government took over Arik Air is because of their huge debt and their mission is to rescue the airline,

He stated that AMCON’s goal is to rescue the airline from collapse. He reasoned that talking about the scale of indebtedness may be debilitating to the airline.

Moreover, Captain Ado Sanusi, Deputy Managing Director of Arik Air said he is going to challenge the federal government for permitting AMCON to take it over.

Also stated that Arik Air, which do carry about 55 percent of the country’s passenger load, can’t be allowed to go into extinction

All this were as a result  of bad corporate governance, erratic operational challenges, inability to pay staff salaries and heavy debt burden among other issues.

 

 

 

 

He stated that AMCON’s goal is to rescue the airline from collapse. He reasoned that talking about the scale of indebtedness may be debilitating to the airline.

Moreover, Captain Ado Sanusi, Deputy Managing Director of Arik Air said he is going to challenge the federal government for permitting AMCON to take it over.

Also stated that Arik Air, which do carry about 55 percent of the country’s passenger load, can’t be allowed to go into extinction

All this were as a result  of bad corporate governance, erratic operational challenges, inability to pay staff salaries and heavy debt burden among other issues.

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