Arik Air to challenge AMCON takeover

Posted by News Express | 10 February 2017 | 2,442 times

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Arik Air Chairman, Joseph Arumeni-Ikhide.

The Management of Arik Air says it will challenge the decision of the Nigerian government to take over its operations.

In a joint Press Conference on Thursday, the airline’s Senior Vice President Ado Sanusi said the airline will accept the court order ordering the Asset Management Company of Nigeria to takeover its operations.

He however added that it will file an appeal against the decision.

He said, “As responsible citizens, we have obeyed the court order which appointed the Olaniwun Ajayi (SAN) as the receivership manager.

“We will comply but I want to make it clear that we have a right to challenge the court order.

“In the coming days, we will make our position known. It is a court order and we can challenge it and we will challenge it to the highest court of authority,” Sanusi said.

Arik is Nigeria’s biggest airline. It has been experiencing difficulties in recent times such as inability to pay workers and creditors.

Under the new arrangement, the airline would be managed by Roy Ilegbodu, a veteran aviation expert, under the receivership of Oluseye Opasanya, a senior advocate of Nigeria.

According to the Asset Management Corporation of Nigeria (AMCON), the decision to intervene is to instill sanity in the country’s aviation sector.

AMCON said Arik had temporarily suspended its operation to New York and grounded more than eight other planes, adding that the airline had also suffered from non-payment of leases.

At the press conference, Opasanya said AMCON was on a rescue mission to re-position the embattled airline.

Opasanya said, “AMCON has been a creditor to Arik for sometime. It also has security over substantial parts of the assets of Arik.

“The debt of Arik to AMCON has not been paid and huge sums of money is owed.

“So AMCON, having consulted widely with government authorities, has decided to appoint me to preside over the affairs of Arik.

“So we have come to supervise the operation, sustain the operation, improve services and ensure that we support Arik with people of deep knowledge, experience and commitment in the airline industry.” (TV360 Nigeria)

Source: News Express

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