The Assets Management Corporation of Nigeria (AMCON) has advised the Chairman of Arik Air, Johnson Arumemi-Ikide, to present a reasonable debt recovery plan in order to recover the airline.
AMCON Managing Director, Mr Ahmed Kuru, gave the advice at a media interactive session in Lagos State.
AMCON took over Arik Air in February 2017 as part of measures to “save” the airline from “imminent collapse” citing gross mismanagement by Arik owners, and debt above N300 billion.
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In July, Mr. Arumemi-Ikide had attempted to reclaim the airline’s headquarters in Lagos.
This followed a Federal High Court ruling that faulted AMCON on transparency and transfer of Arik’s assets to float a new airline and barring Mr Arumemi-Ikide from the airline’s facilities.
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