Arik Air retains IOSA, IATA membership status

The International Air Transport Association (IATA) says the body is currently working with the new management of Arik Air to resolve the airline’s suspension from the IATA Billing and Settlement Plan (BSP) and Cargo Account Settlement System (CASS).

A statement issued yesterday by IATA’s. Area Manager, South/ West African, Dr Samson Fatokun stated that the airline’s suspension from the IATA financial systems does not affect its IATA membership or IOSA registered status.
According to IATA, Arik Air remains a member of IATA and a fully IATA Operational Safety Audit (IOSA) registered airline.

IATA (International Air Transport Association) represents some 265 airlines comprising 83% of global air traffic.
Few weeks ago, the Asset Management Company of Nigeria (AMCOM) took over Arik Air Management.

According to AMCOM the takeover is only a respite coming the way of Arik Airlines which is currently immersed in heavy financial debt burden that is threatening to permanently ground the airline.

Stating further, AMCOM pointed out that the move, which clearly underscores government’s decision to instill 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 development AMCOM said will afford Arik Airlines, which is the largest local carrier to go back to regular and undisrupted operations, avoid job losses, protect investors and stakeholder funds as well as ensure safety and stability in the already challenged aviation sector.

Since the announcement, the airline has been under the management of Capt. Roy Ukpebo Ilegbodu, a veretan aviation expert under the receivership of Mr. Oluseye Opasanya, SAN.

AMCOM however, assured all stakeholders that the intervention is in the best interest of the general public, workers, creditors and other aviation.