Damage Control As ARIK AIR Announce It Will Now Be Managed By AMCON

The Asset Management Company of Nigeria (AMCON) has taken over the management of Arik Air as part of a new measure to salvage the Airline’s reputation and has appointed Captain Roy Ukpebo Ilegbodu as the managing director and Mr Seyi Opasanya (SAN) under receivership arrangement. 

This takeover is a welcoming news because Arik air has all the right ideas but the management under the previous administration was appalling. The Airline failed to understand Nigeria is moving on from the dark ages and decided to treat its customers who actually are the bedrock of the organisation, with a frightening lack of respect, a mentality that Nigerians are now making conscious efforts to leave behind. 

Arik’s statement reads:” From all indications, respite may have come the way of Arik Airlines currently immersed in heavy financial debt burden that is threatening to permanently ground the airline.

For some time now, the airline, which carries about 55 percent of the load in the country, has been going through difficult times that are attributable to its bad corporate governance, erratic operational challenges, inability to pay staff salaries and heavy debt burden among other issues, which led to the call for authorities in the country to intervene before Arik goes under like many before it.

“The move, which clearly underscores government’s decision to instil sanity in the nation’s aviation sector has also prevented a major catastrophe that would among other factors protect, and preserve Arik Airlines as a going concern.”

” The airline would now be managed by Capt. Roy Ukpebo Ilegbodu, a veteran aviation expert under the receivership of 

Mr. Oluseye Opasanya, SAN.”

The Minister of State for Aviation, Senator Hadi Siriki gave an insight into the reason behind this decision, he said, 

“We believe that this appointment is timely and will stabilise the operations of the airline.

This, he said will enhance the long term economic value of Arik Air and revitalise the airline’s ailing operations as well as sustain safety standards, in view of Arik Air’s pivotal role in the Nigerian aviation sector.”