How healthy competition forced Arik Air to slash fares
Healthy competition amongst local airlines and those plying Accra route in Nigeria has compelled the debt embattled management of Arik Air to reduce flight fares for its Lagos-Abuja routes and Nigeria-Accra. The Assets Management Company of Nigeria (AMCON) took over…
Forget suit, settle your indebtedness, takeover your company—AMCON to Arik shareholders
In a sharp reaction to the suit filed by Arik Air shareholders over what they described as veiled plan to wrestle away their investment and sale to Ethiopian Airlines, the current manager, Asset Management Corporation of Nigeria (AMCON), has advised…
Confusion, official denial trail Ethiopian Airlines buy over of Arik Air
Contrary to the pronouncements of the Managing Director of International Services at Ethiopian Airlines, Esayas Wolde Mariam, on CNN last week Thursday that the company had submitted a formal offer to take over the carrier, the Ministry of Aviation said…
Shareholding, depth of debts to dominate discussions on Dubai group deal in Arik Air
Emerging prospective team of investors from Dubai, United Arab Emirates in stressed Arik Air is set for second round of discussion that will be centered on structuring shareholding and the depth of the debts, which creditors must back with evidence,…
Dangote may buy near moribund Peugeot assembly plant from AMCON sooner
AMCON’s Chief Executive, Ahmed Kuru, has hinted the chances of of leading industrialist, Aliko Dangote to buy up near moribund Peugeot Assembly Plant, Kaduna in partnership with Kaduna and Kebbi States. Bank of Industry (BoI) is also in the picture of new…
Relief underway for Etisalat as NCC rallies CBN, affected banks Friday for talks
The Nigerian Communications Commission (NCC) has made apparent inroad over the possible amicable settlement of the multi-billion non-performing loans owed three banks by Etisalat Nigeria. This indication is coming after a meeting Thursday afternoon in Abuja between the Executive Vice…
NLC warns as AMCON mulls sack of 1,500 workers at Arik over revenue lull
Relying on credible indications, the leadership of the Nigerian Labour Congress (NLC) has ambushed the new management of Arik Air, the Asset Management Corporation of Nigeria (AMCON) not to think near any plan to sack workers it met on ground…
‘Poor management, not traffic drop collapsed local airlines from 150 to 9 in 17 years’
Aviation expert, Chief John Ugbene has revealed that contrary to speculations in some quarters that it was momentary drop in traffic and government policies that failed over 140 local airlines over the years, poor management by way of putting round…
