AMCON not in discussion with Ethiopian Airlines

The management of Asset Management Corporation of Nigeria (AMCON) has denied involvement in a reported on-going discussion between Ethiopian Airlines and Arik Air for the carrier to render management services to Arik, stating that AMCON is not aware of any current discussion or negotiation with the management of Ethiopian Airlines regarding Arik Air Limited.

In a statement on Monday, which was signed by its Head, Corporate Communications, Mr Jude Nwauzor, the corporation said “Our attention has been drawn to a barrage of media reports, which claimed that there are discussions going on with Ethiopian Airlines for the carrier to render management services to Arik. Contrary to these reports, the Asset Management Corporation of Nigeria (AMCON) is not aware of any current discussion or negotiation with the management of Ethiopian Airlines regarding Arik Air Limited (Arik).”

According to it, “Arik was placed in receivership last February, following the airline’s inability to repay debts in excess of N300 billion to AMCON and other creditors in Nigeria and around the world. It is on record that the Receivership Team has within the period stabilised the operations of the airline, marked by stability of schedules; improved On-Time-Performance (OTP) and revamped customer service among others. Today, the Airline has regained its dominance as the most reliable carrier in the country with growing passenger patronage and confidence.”

It stated that the public and all stakeholders will be kept informed on issues relating to the airline’s divestment plan.