AMCON Refutes Talks with Ethiopian Airlines over Arik Air


The Asset Management Corporation of Nigeria (AMCON) yesterday restated that it had not entered into negotiation with the management of Ethiopian Airlines regarding Arik Air Limited (Arik), which it took over recently.

AMCON’s Head, Corporate Communications, Jude Nwauzor, in a statement yesterday, said the attention of the corporation was drawn to a barrage of media reports on the matter.

He explained: “Our attention has been drawn to a barrage of media reports, which claimed that there are discussions going on with Ethiopian Airlines for the carrier to render management services to Arik.

Contrary to these reports, the Asset Management Corporation of Nigeria is not aware of any current discussion or negotiation with the management of Ethiopian Airlines regarding Arik Air Limited (Arik).”

Arik was placed in receivership last February, following the airline’s inability to repay debts in excess of N300 billion to AMCON and other creditors in Nigeria and around the world.

It had been reported that the Receivership Team had within the period stabilised the operations of the airline, marked by stability of schedules; improved On-Time-Performance (OTP) and revamped customer service among others.


“Today, the Airline has regained its dominance as the most reliable carrier in the country with growing passenger patronage and confidence. The general public and all stakeholders will be kept duly informed on issues relating to the airline’s divestment plan,” Nwauzor added.

It was reported last week that Africa’s leading airline, Ethiopian Airlines, said that it had submitted a formal offer to take charge of troubled local carrier Arik Air, which accounts for more than half of Nigeria’s air passenger traffic.

“We have outlined our terms and conditions to the Nigerian government and we are waiting to see if they agree,” Esayas WoldeMariam, the airline’s managing director of international services, had told CNN.

“We are capable and desirous of handling the airline,” he stated.