THE Asset Management Corporation of Nigeria, AMCON, yesterday, said that over N10 billion will be needed to fix Arik Air to resume full and uninterrupted flight operations to its regular routes across the country and beyond. According to AMCON, the situation is so bad that only nine aircraft of the 30 in Arik Air’s fleet is operational. It said the remaining 21 aircraft had either been grounded or gone for C-check in Europe, among other challenges. Powerful cabal in the Presidency was said to have decided to take advantage of President Muhammadu Buhari’s absence to hatch the plot as efforts to sell the idea of “take-over of ARIK” This is coming as industry sources alleged hidden agenda in Arik Air’s take-over, with the Senate planning to hold a public hearing on the issue. AMCON’s revelation was made public by the new management of Arik Air, headed by the Chief Executive Officer, Capt. Roy Ukpebo Ilegbodu, under the receivership of Mr. Oluseye Opasanya, SAN. The airline was, last Thursday, taken over by the Federal Government, under the auspices of AMCON, as a result of a debt profile of over N300 billion. AMCON, in a statement, yesterday, said: “The Asset Management Corporation of Nigeria, AMCON, has discovered deep rooted rot at Arik Airlines, which would require over N10 billion to fix before the largest local carrier would resume full and uninterrupted flight operations to its regular routes across the country and beyond. “The situation is so bad that only nine aircraft out of the 30 in the fleet of the airline is operational. 21 of them have either been grounded, gone for C-check in Europe among other forms of challenges.

Read more at: http://www.vanguardngr.com/2017/02/arik-airs-take-powerful-cabal-presidency-taking-advantage-buharis-absence/

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