AMCON denies Arik takeover by Ethiopian Airlines

The Assets Management Corporation of Nigeria (AMCON) has refuted claims widely reported in the media that Ethiopian Airlines is at the verge of taking over Arik Air.

The report claimed that there are discussions going on with Ethiopian Airlines for the carrier to render management services to Arik.

But spokesman for AMCON, Jude Nwauzor in a statement today said contrary to these reports, AMCON is not aware of any current discussion or negotiation with the management of Ethiopian Airlines regarding Arik Air Limited (Arik).

Arik was placed in receivership last February, following the airline’s inability to repay debts in excess of N300 billion to AMCON and other creditors in Nigeria and around the world.

He said it is on record that the Receivership Team has within the period stabilised the operations of the airline, marked by stability of schedules; improved On-Time-Performance (OTP) and revamped customer service among others.

“Today, the Airline has regained its dominance as the most reliable carrier in the country with growing passenger patronage and confidence”.

“The general public and all stakeholders will be kept duly informed on issues relating to the airline’s divestment plan”, he added.