The Federal Government on Thursday announced through the Assets Management Corporation of Nigeria (AMCON) that it is intervening in the debt ridden Arik airline to give lifeline to the financially distressed company.
AMCON spokesperson, Jude Nwauzor, said in a statement said; “The development will afford Arik Airlines, which is the largest local carrier in the country, to go back to regular and undisrupted operations, avoid job losses, protect investors and stakeholder funds as well as ensure safety and stability in the already challenged aviation sector,”.
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.
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