Inconsistency in govt policies hindering sale of Arik, Aero — Aviation stakeholders

Aviation stakeholders have reacted to the inability of the federal government to attract investors who are willing to put their money in Arik Air and Aero Contractors airlines two years after they came under the receivership of the Assets Management Corporation of Nigeria, AMCON.

Arik Air has not had any interested investor, while Aero Contractors was said to have had investors already streamlined to three for negotiations with the management.

Sources within the airlines told Vanguard that since AMCON took over the management of Arik in February 2017, only a Chinese firm in March of the same year, indicated interest to invest in the airline.

The management source, who does not want to be named, said: “Since AMCON took over Arik Air in 2017, only Chinese investors indicated interest in the airline and that was one month after the government agency took over.

Vanguard, January 26, 2019

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