The viral speculation that government is working on a template, via the Assets Management Corporation of Nigeria (AMCON) to convert assets of Aero Contractors and Arik Airlines has been described as the most toxic business plan for the nation’s aviation industry.
Currently both airlines are troubled and under the administration of the corporation.
Managing Director of AMCON, Ahmed Kuru, who made the clarification at a media forum in Lagos to clarify the 2016 financial statement of the corporation, said “It will be suicidal to build a national carrier from Aero and Arik airline because the problem they will face is very huge, including litigations that can last up to 10 years”.
On another speculation that some foreign investors had indicated interest in acquiring the airline, Kuru said, “No investor will put his money on these airlines without first addressing the problems on ground.”
Business Hilights recalls that the Minister of Finance, Kemi Adeosun has some time ago hinted that some foreign investors had indicated interest in acquiring the cash-strapped airlines.