FG offers to bail Arik out of current distress

The Federal Government has offered distressed Arik Airlines lifeline to keep it afloat.

This development was announced by the spokesperson of the Asset Management Corporation of Nigeria, AMCON, Jude Nwauzor.

Nwauzor disclosed that the decision to assist the airline was in line with government’s commitment to instill sanity in the country’s aviation sector and prevent a major catastrophe.
According to Nwauzor, “The development will afford Arik Airlines, which is the largest local carrier in the country, 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.”
Details Later…