AMCON debunks negotiation with Ethiopian Airlines

The Asset Management Corporation (AMCON), on Monday debunked reports that it was negotiating with Ethiopian Airlines to manage the Nigerian carrier, Arik Airline.

The corporation debunked the report in a statement signed by Mr Jude Nwauzor, Head of Corporate Communications, in Lagos.

AMCON said it was not aware of any current discussion or negotiation with the management of Ethiopian Airlines regarding Arik Air Ltd.

“It is on record that the Receivership Team has within the period stabilised the operations of the airline, marked by stability of schedules; improved On-Time-Performance (OTP) and revamped customer service among others.

“Today, the Airline has regained its dominance as the most reliable carrier in the country with growing passenger patronage and confidence.

“The general public and all stakeholders will be kept duly informed on issues relating to the airline’s divestment,” Nwauzor said.

Recall that Arik was placed under receivership in February, following the airline’s inability to repay debts in excess of N300 billion to AMCON and other creditors within and outside the country.