There are Indications that owners of Arik Air which is currently under receivership have concluded arrangement to offset the airline’s debts to the Asset Management Corporation of Nigeria, AMCON, and other creditors.
According to one of the owners, who spoke under condition of anonymity, “the airline shareholders have held series of meetings with other investors but have reached firm commitment with this Middle East-based conglomerate, which has its headquarters in Dubai with interest to do business in Africa”.
He added that the company “ had voted funds to investment in airline business, power and agriculture and it was attracted to Arik Air, which would serve as platform to invest in air transport in the continent, as the continent has been projected as a new bastion of hope for economic development in the world”.
The shareholder further said “Arik Air and the company started negotiation last week in London and have reached some commitments and a team has been selected by each company to continue with the negotiations, which continues this month.”
“The plank of discussion is on the shareholding and the depth of the debts, which creditors must back with evidence and also operational conditions”.
Meanwhile, chairman of Arik Air, Sir Joseph Arumemi-Ikhide, has also confirmed the negotiation.
