Arik Air to challenge take over by AMCON in court

The management of Arik Air has declared its intention to challenge the take over of the airline by the Asset Management Corporation of Nigeria (AMCON).

This deputy managing director of Arik Air, captain Ado Sanusi declared this at the airline’s headquarters in Lagos during a media briefing by the AMCON receiver manager, Mr. Oluseye Opasanya, SAN and his team and the management of Arik Air yesterday.

Speaking during the media briefing, Sanusi stated that though Arik agreed to comply with the court order directing AMCON to take over the management of the airline, but said the airline will challenge the decision to the highest order in the land.

He said the airline might disagree with the court order, but agreed to the takeover so that the airline operations will continue and not paralyzed.

His words: “We were served with the court order this morning, Arik Air will comply with the order. The airline has the right to challenge the order and will challenge the court order. We might disagree on certain issues, but we have agreed that Air operations should continue and not be paralysed. We will make our position known to our various stakeholders and partners, we will challenge this order to the highest level”.

Speaking earlier, the receiver manager, stated that the management of AMCON having consulted widely with the government authorities has decided to appoint him the receiver manager to superintendent over the affairs of Arik Air to sustain, and improve its services.

He said AMCON will ensure that it supports the airline with people of great knowledge and experience to improve the fortunes of the airline.

Opasanya said he has addressed the workers earlier on the new development and the need to keep the airline flying and relevant to the industry as there are many Nigerians under employment of Arik Air.

While stating that Arik Air plays a pivotal role in the airline industry in the country, the receiver manager noted that AMCON is willing to support the operations of Arik Air together with the support of the government to meet the essential needs of the company.

He said AMCON will reach-out to other creditors of the airline, both foreign and local in order to secure their co-operation and commitment.

Opasanya said the mission now is not to talk about the airline’s huge indebtedness, as the airline owes huge sums of money, but how to rescue the airline from total collapse.


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