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Arik Air FG takes over airline, appoints new management

The move was announced by the Asset Management Corporation of Nigeria (AMCON) on Thursday, February 9.

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A Boeing 737-7BD Arik Air aeroplane is seen parked on the tarmac at the local airport in Lagos, file. REUTERS/Akintunde Akinleye play A Boeing 737-7BD Arik Air aeroplane is seen parked on the tarmac at the local airport in Lagos, file. REUTERS/Akintunde Akinleye (REUTERS)

The Federal Government has taken over the affairs of Arik Air and appointed a new management to take charge of the company.

The move was announced by the Asset Management Corporation of Nigeria (AMCON) on Thursday, February 9.

“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 via a statement.

Minister of State for Aviation, Hadi Sirika, also said that the government’s decision to take over Arik Air would stabilize the airline’s operations.

“All necessary steps have been taken to ensure that there would be no undue disruption on Arik’s regular business operations or activities of other stakeholders, on account of the recent changes in the leadership and management of Arik Airline,” Sirika said according to Premium Times.

ALSO READ: Pregnant woman, 39, dies aboard Arik Air flight

The airline will now be managed by Roy Ilegbodu, a veteran aviation expert under the receivership of Oluseye Opasanya, a Senior Advocate of Nigeria.

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