Arik: No discussion with Ethiopian Airlines, says AMCON

The Asset Management Corporation of Nigeria has said it is not aware of any current discussion or negotiation with the management of Ethiopian Airlines regarding Arik Air Limited for the carrier to render management services to Arik.

AMCON stated this in a statement made available to our correspondent on Monday by its Head, Corporate Communications, Jude Nwauzor.

The Managing Director of International Services, Ethiopian Airlines, Esayas WoldeMariam, was quoted by the CNN last Thursday to have said that the airline had submitted a formal offer to take over Arik. “We have outlined our terms and conditions to the Nigerian government and we are waiting to see if they agree. We are capable and desirous of handling the airline,” WoldeMariam was quoted to have said.

The report also quoted Godfrey Odudigbo of the Nigerian embassy in Addis Ababa as saying that negotiations over Arik could be concluded by the end of the year.

However, AMCON and the Ministry of Aviation sources had said they were not aware of the development.

AMCON’s statement on Monday read in part, “Our attention has been drawn to a barrage of media reports, which claimed that there are discussions going on with Ethiopian Airlines for the carrier to render management services to Arik. Contrary to these reports, the Asset Management Corporation of Nigeria is not aware of any current discussion or negotiation with the management of Ethiopian Airlines regarding Arik Air Limited. “The general public and all stakeholders will be kept duly informed on issues relating to the airline’s divestment plan.” Arik was placed in receivership last February, following the airline’s inability to repay debts in excess of N300bn to AMCON and other creditors in Nigeria and around the world.

Credit: Punch