Asset Management Corporation of Nigeria has revealed in-depth details about the financial burden of indigenous airline, Arik.
The Asset Management Corporation of Nigeria (AMCON) on Sunday said
it had discovered deep rooted rot at embattled airline, Arik Air.
AMCON said it would require over N10 billion to fix the rot before
the largest local carrier could resume full and uninterrupted flight
operations to its regular routes across the country and beyond.
The asset company made the disclosure in a statement signed by its Spokesman, Mr Jude Nwauzor in Lagos.
The airline was on Feb. 9 taken over by the Federal Government
under the auspices of AMCON as a result of a whooping debt profile of
over N300 billion.
AMCON had directed that the airline would now be managed by Capt.
Roy Ilegbodu, a veretan aviation expert, under the receivership of Mr
Oluseye Opasanya (SAN).
The statement noted that the situation was so bad that only nine
aircraft out of the 30 in the fleet of the airlines were operational.
According to the statement, 21 of them have either been grounded, gone for C-check in Europe, among other forms of challenges.
“As if these problems are not enough, the airline does not have
money to procure aviation fuel for the nine operational aircrafts
because no dealer wants to sale aviation fuel to Arik if it is not on
cash-and-carry basis.
“This also calls for public understanding because flight
schedules may be realigned based on the nine aircrafts that are
available, technically sound and ready for flight operation,” it said.
The statement said it was discovered that Arik also owe its
technical partners and also in perpetual default in its lease payments
and insurance premium, leading to regular and embarrassing squabbles
with different business partners.
“All these problems in addition to huge staff salaries, which
have remained unpaid for 11 months; vendors that supply different items
to Arik Air that are also owed means that Nigerians may have to
tarry-a-while to allow the new management clean up the huge mess at the
airline before Arik would finally resume uninterrupted flight,’’ It said.
The statement quoted Ilegbodu as reassuring Nigerians that these
issues; though daunting, would be gradually resolved to enable Arik Air,
which carries about 55 per cent of the load in the country recover the
21 aircraft.
According to him, once all the aircrafts are back to the fleet,
Arik Air will within the shortest possible time regain its pride of
place as a leader among the comity of airlines in Nigeria.
He reiterated the fact that the intervention at Arik Air clearly
underscores government’s decision to instill sanity in the nation’s
aviation sector, adding that the move also prevented a major disaster
that would have befallen the airline.
It said that the new management had settled the insurance cover for
the aircraft which would have expired on Feb.12 and also met with
different trade creditors as well as aggrieved staffers.
It, therefore, called for public understanding as the management
begins the tough job of ensuring that Arik is returned to full
operational capacity within the shortest possible timeframe.
Reliance Training and Management Consulting, a dynamic, fast growing indigenous entity, was established and duly registered with the aim to nurture, develop and innovate people and organisations through customized training, development and management consulting services, with excellent performance, deep sense of commitment, transparency, honesty and responsibility, to demonstrate the highest standard of technical and operational expertise.
Reliance is competently positioned to provide technical knowledge and skills relevant to practical management and business problems, to stimulate the creativity and innovation necessary to build a better community, a better nation and a better world with a committed mind set to contributing our best to the maximization of personal potentials and skills toward optimizing productivity and achieving organisational goals.
for more information click RELIANCE TRAINING AND MANAGEMENT CONSULTING
No need to visit Tonygists just use the android application click for more info Tonygists android application
Visit some of the website built by tonygists
1. south south penpushers : south south pen pushers
2. kingdom builders : Kingdom builders
Tonygists bro: honest zone
Are You On youtube? subscribe to Hot GIST Channel Latest Updates - @Hot Gist
Are You On youtube? subscribe to Gospel World (which is also owned by Tony Gists) youtube Channel Latest Updates - @Gospel world
Are you on audio mack? Follow Tonygists on audio mack to listen and download to the latest Mfm sermons Latest Updates - @Tonygists
Follow Tonygists on LinkedIn to get more jobs opportunities Latest Updates - @Tonygists
Are You On youtube? subscribe to Honest Ose Channel Latest Updates - @Honest Ose
Are You On youtube? subscribe to Honest Web Solutions Channel Latest Updates - @Honest Web Solutions
Are You On youtube? subscribe to Xtremely Honest Channel Latest Updates - @Xtremely Honest
Are You On Twitter? Follow Us Now For Latest Updates - @tonygists
Are You On FACEBOOK? Like Our Page For Latest Updates - tonygists
Are You On FACEBOOK? Join Our Group For Latest Updates And Interactions - TonyGists
© 2024 Tonygists | Portions are © 2024 Associated Press. All rights reserved. This material may be published, broadcast, rewritten, or distributed.
