Arik Air vows to challenge Nigerian govt. takeover

Arik Air

The management of Arik Air on Thursday said it would challenge the taking over of the airline by the Assets Management Company of Nigeria (AMCON) in court.

Ado Sanusi, Senior Vice President, Arik Air made the disclosure at a joint news conference with the newly appointed receiver manager, Oluseye Opasanya, and the airline’s technical consultant, Roy Ilegbodu.

The asset company had on Thursday taken over the airline following its huge indebtedness to local and foreign creditors.

Mr. Sanusi said the airline had been served with a valid court order empowering AMCON to take over the company.

“As responsible citizens, we have obeyed the court order which appointed the Olaniwun Ajayi (SAN) as the receivership manager.

“We will comply but I want to make it clear that we have a right to challenge the court order.

“In the coming days, we will make our position known. It is a court order and we can challenge it and we will challenge it to the highest court of authority,” Mr. Sanusi said.

He added that while the legal battle would be on one front, the parties had agreed that Arik Air would continue to run without any disruption.

Also speaking, Mr. Opasanya said AMCON was on a rescue mission to re-position the embattled airline.

Mr. Opasanya said :”AMCON has been a creditor to Arik for sometime. It also has security over substantial parts of the assets of Arik.

“The debt of Arik to AMCON has not been paid and huge sums of money is owed.

“So AMCON, having consulted widely with government authorities, has decided to appoint me to preside over the affairs of Arik.

“So we have come to supervise the operation, sustain the operation, improve services and ensure that we support Arik with people of deep knowledge, experience and commitment in the airline industry.”

According to him, Arik plays a pivotal role in the airline industry and many Nigerians are currently drawing their means of livelihood from the company.

“We have addressed the workers and the management and we want to assure other stakeholders and members of the public that the desire of AMCON is to keep the airline flying.

“AMCON is willing to support the operation of Arik and together with the government, work to meet the immediate essential needs of the company, “he said.

On his part, Mr. Ilegbodu said Arik had 28 aircraft in its fleet but only 10 are currently being used for operations.

He said his duty as technical consultant was to get to the root of the problems bedeviling the airline to ensure its sustainability. (NAN)


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  • JOHN

    The harsh economic environment has once again distressed a promising Arik Air. How are the mighty falling. More unemployment, more cries, more sorrow. Negative change indeed.

    • Emma


      Now that this latest report confirms that there is a court order there’s nothing irregular in what’s happened.

      What Nigerians should now worry about is how many more of the few companies left will collapse this month.

      • Otunba

        If you are worried of Companies collapsing, what about the entire Country itself? Do you see any green light at this level? You need to pray hard now!

    • Africa

      Arik indebtedness to the Fed. goes way back before Buhari, remember when all struggling airlines collected 25bn Naira bailout? So the mismanagement and hard time facing the airline has nothing to do with this government or the current economic situation. Other airlines operating within same sector are increasing their fleets and flying new routes.

    • Ola

      Arik Air has been bereft with proper management for years. It has been bailed out several times to no avail.

      The problem lies with the founder of the company. He got into the business using government’s looted and easy money.
      Most of which were spent to maintain luxurious lifestyles and when it ran out,the business suffered and now it is being rescued yet again.

      You should credit the government for taking the company into receivership and keeping the employees.

      Most of our so called big business men in Nigeria are just money laundering agents and nothing more.

    • Babso

      Which harsh economic environment are you talking about here? This is pure mismanagement on the part of the Airline owner. Why are the other airlines not distressed? Get understanding of an issue before commenting please.

  • qtrust

    Arik is, not one of, but the absolute worst airline I’ve ever used. A cumulated 17 hours of delays with no information. Planes with one working toilet and the other leaking things. Seats held down with tape. Absolute nightmare.

  • tsunami1earthquake

    Arik Air, you cannot challenge anything! You’re finished and useless! You were given every opportunity to amend and get back to standard but you blew all the chances. Were you waiting to cause another air disaster before you woke up from your silly slumber? Get off it, back off and get out of here!

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