INDEPENDENT
AMCON has managed liabilities, recovered aircraft, and kept Arik Air operational despite significant industry and legal headwinds.
The Asset Management Corporation of Nigeria (AMCON) has intensified collaborations with lessors and financial institutions, including Export Development Canada (EDC), Standard Chartered Bank, Pembroke, and Afreximbank, to manage liabilities tied to Arik Air. The corporation also recovered abandoned aircraft from overseas and prioritized fleet rationalization.
Engaging with Maintenance, Repair and Overhaul (MRO) firms such as Lufthansa Technik and TARMAC Aerosave, AMCON has overseen the storage, repairs, and disposal of aircraft and components, while implementing cost-saving strategies.
Despite limited operations, Arik Air retains a valid Air Operator Certificate (AOC) and complies with NCAA regulations.
Mr. Olumide Ohunayo noted, “Its 2024 passenger traffic stood out due to the diligence of AMCON in spite of industry challenges.”
Comrade Ocheme Aba urged all stakeholders to “agree to a truce and start now to work in alliance to assure the health of the airline.”
Capt. Samuel Caulcrick added that AMCON’s intervention “prevented job losses among professionals in the sector.”