Troubled Arik Air on Tuesday announced that it was suspending its flights to London and Johannesburg.
The development is believed to be one of the immediate steps being taken by the Asset Management Corporation of Nigeria (AMCON), new managers of Arik Air, to restructure the operations of the ailing airline.
Head, Corporate Communications, AMCON, Jude Nwauzor, made the decision known in a statement on Tuesday.
Said he, “The strategic business decision is meant to realign our operations and refocus on satisfying our domestic and West Africa and other international passengers.
“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.”
Concerned about investors waning confidence, AMCON added, “To our international creditors, Arik is most grateful for your patience and understanding.
“We reassure them that all pending issues with the airline will be duly addressed as a matter of priority as we plan to engage them in this regard.”
Nigeria’s aviation sector quaked on February 9 when AMCON took over the operations of one of the country’s largest operators, Arik Air. The airline is alleged to be owing about N300 billion but this has been disputed, with the former management promising to pursue AMCON’s seizure of its assets at the courts.
Before Arik, AMCON had also intervened in the operations of the once-thriving airline, Aero Contractors.
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