in Route Planning & Tourism

Arik Air drops London and Johannesburg routes

Posted 15 February 2017 · Add Comment

Having assumed control of the airline late last week, the Asset Management Corporation of Nigeria (AMCON) said Arik Air requires over NGN10 billion naira (USD31.7 million at the official bank rate) for it to resume full and uninterrupted operations, reports ch-aviation.

The state-owned firm's Head of the Corporate Communications, Jude Nwauzor, said in a statement that the “mess” met on ground was actually greater than anticipated. 

“It appears that unlike previously recorded, Arik has debts in excess of NGN300 billion (USD953 billion at the official bank rate), especially with some banks, excluding fuel suppliers, lessors and maintenance companies," he said adding that all creditors' claims will be addressed in due course. 

AMCON last week blamed Arik Air's persistent financial woes on its "bad corporate governance". 

Since moving into position, it says insurance cover for Arik's aircraft, which were to have expired on Sunday, 12 February, has been paid with its aircraft gradually resuming flights. The airline's New York JFK service was suspended this past week.

The decision has since been taken to suspend the carrier's flights to London Heathrow and Johannesburg O.R. Tambo in favor of focusing on the West African market. 

”The strategic business decision is meant to realign our operations and refocus on satisfying our domestic and West Africa and other international passengers," Nwauzor added. “It will also present Arik with excellent opportunity to engage and discuss with creditors who have become restive since the intervention and have also understandably exhausted their patience due to non-payment of accumulated debt and non-performance on services and contracts.”

* required field

Post a comment

Other Stories
Advertisement
Latest News

Ethiopian Airlines wins SKYTRAX World Airline Award for the Best Airline in Africa

Ethiopian Airlines has won SKYTRAX World Airline Award for the Best Airline in Africa for second successive year.

Routes Africa 2018 Marketing Awards winners announced

The winners of the Routes Africa 2018 Marketing Awards have been revealed, with Cape Town Air Access the overall winner through to the final at World Routes in Guangzhou.

FIA2018: Rockwell Collins recognised by Airbus as a top performer for avionics support

Rockwell Collins has been honoured with a Customer Services Award for its avionics service by Airbus and its customer airlines at a special ceremony at the Farnborough Air Show held yesterday.

FIA2018: Africair signs PA for first Bell 407GXi in Africa

Bell Helicopter, a Textron company, has announced that Africair has signed a purchase agreement for the first Bell 407GXi in Africa.

Air Partner lion relocation flight is a roaring success

Air Partner, a aviation services group, was recently called upon to assist in the successful relocation of a lion on behalf of the Born Free Foundation.

Ethiopian Airlines selected as Dowty Propellersí authorised repair facility for Bombardier Q400s

Dowty Propellers has announced an agreement establishing Ethiopian Airlines as an authorised repair and overhaul facility in Africa for propellers on Bombardier Q400 regional airliners.

TAA SK0902311218
See us at
AirCargoAFA_BT220318210219GroundHandling BT2205130918AviationAfrica_BT0607280219AAD2018 BT