The Federal Government on Thursday announced a lifeline to financially distressed Arik Airline to continue to keep it as a going concern in the aviation industry.
Arik Air
The President Muhammadu Buhari-led Federal Government has taken over Arik Airline, which has been experiencing difficulties in recent times.
According to the Asset Management Corporation of Nigeria (AMCON), the decision to intervene 'clearly underscores the government’s commitment to instilling sanity in the country’s aviation sector and prevent a major catastrophe.'
The airline will now be managed by Roy Ukpebo Ilegbodu, an aviation expert, under Oluseye Opasanya, a Senior Advocate of Nigeria.
The Minister of State for Aviation, Hadi Sirika expressed the belief that the development will bring about stability in the airline.
Below is the full statement released on the Twitter account of Nigerian President's office (@AsoRock) on social media;