Asset Management Company of Nigeria, AMCON has taken over the management and ownership of indeginous Airline, Arik Air and immediately appointed Capt. Roy Ukpebo Ilegbodu as the company’s Managing Director, Fresh Angle International has gathered.
The airline is reportedly indebted to AMCON to the tune of N135 billion, even as Operatives of Economic Financial Crimes Commission,EFCC on Wednesday February 8 invaded the premises of the airline and whisked away the Executive Chairman of the airline, Chief Johnson Arumemi-Ikedi to their Lagos office.
For some time now, the airline, which carries about 55% of the load in the country, has been going through difficult times that are attributable to its bad corporate governance, erratic operational challenges, inability to pay staff salaries and heavy debt burden, among other issues.
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.
The development will afford Arik Airlines, which is the largest local carrier 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.
Copyright: Fresh Angle International (www.freshangleng.com)
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