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Arik Air May Be Bankrupt – Report

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arik

Unions in the aviation industry has for the second time within a week threatened to disrupt activities of Arik Airlines due to huge debt owed aviation parastatals raising fears the airline may be bankrupt.

“Arik has been enjoying services of aviation para­statals without paying for them. This protest is to send a notice to Arik management that the aviation workers are tired of the incessant indebtedness of Arik to all the aviation parastatals,” Benjamin Okewu, President of the Air Transport Services Se­nior Staff Association of Nigeria (ATSSSAN) was quoted by PSN to have said.

According to Per Second News, the troubled airline in dire financial straits plans to cut hundreds of jobs. Due to this, pilots of the airline are already leaving to other airlines.

The news outfit confirmed that almost a dozen Arik airline pilots quit their jobs in recent months with some of them leaving to Air Peace, Dana, and Medview airlines.

In a recent plea by the Deputy Managing Director of Arik Air, Captain Ado Sanusi, he prayed that the debts of the airline should be rescheduled and the interest rates reviewed downwards. He also urged the aviation agencies to reschedule the debts owed them by the airlines.

“The aviation parastatals should do a re-set button for the airlines. They can look at the whole debts and negotiate with the airlines. They can reconcile the debts and tell the airlines to pay a percentage of the total debts and agree on payment modalities,” PSN quoted Sanusi to have said.

Reports say N300 billion intervention funds by the administration of the late President Musa Yar’adua for the power sector and the airlines had lessened Arik Airline’s burden. The carrier got N15 billion of the intervention fund and used the money to refinance its debts with the banks, according to its deputy managing director.

As the figures showed, the carrier’s financial problems had taken root before now, by mid-2014, those business problems were overshadowed by scarcity in aviation fuel and forex exchange rates.

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1 Comment

1 Comment

  1. Captain Ado Sanusi

    September 29, 2015 at 5:01 pm

    This is in regards to the above mentioned article quoting my name and words which for the record were totally taken out of context when I had given the interview to the press. For further clarification, the debts owed by all airlines in Nigeria should be rescheduled and given a lower interest rate in line with international standards and not for one airline in particular. Furthermore, the aviation parastatals that have unilaterally billed all airlines should reconcile their figures and then agree on a more mutual amount to be paid by all airlines or to be refunded to the airlines by the parastatals. This was the interview that was granted to some media outlets few months ago.

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Nigeria’s Communications Minister, Isa Pantami, Loses 13-year-old Daughter

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Nigeria's Communications Minister, Isa Pantami, Loses 13-year-old Daughter

Communications minister, Isa Pantami

Minister of Communications and Digital Economy, Isa Ali Pantami, has announced the loss of his 13-year-old daughter, Aishah Isa Ali.

The Minister took to his Twitter account on Monday night to announce this sad news.

Pantami stated that the funeral prayer for the deceased will be conducted in Abuja on Tuesday at Annur Masjeed, Wuse 2.

Also Read: Gunmen Evict NIDCOM Staff From Office On Minister’s Order

The post by the minister announcing the incident reads; “Inna lil Laahi wa inna ilaiHi Rajiun! My 13-year old daughter, Aishah Isa Ali (Amal) passed away just a moment ago.

“Due to some necessities, funeral prayer tomorrow at Annur Masjeed, Wuse 2, immediately after Zuhr prayer In sha Allah. May Allah forgive and be merciful to her.”

 

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Cult Violence: Wike Imposes Two-Week Curfew Around Okoro-Nu-Odu

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Cult Violence: Wike Imposes Two-Week Curfew Around Okoro-Nu-Odu

Governor Wike

Governor Nyesom Wike of Rivers State has imposed a 24-hour total curfew for two weeks on some parts of Port-Harcourt, the state capital.

The Governor made this known during a broadcast on Sunday where he noted that the curfew begins from Monday 23rd November 2020.

The statement noted that the upsurge noticed by the state government in cases of cult activities, other forms of violence, and killings is responsible for the curfew.

Also Read: Umahi Unhappy With PDP Because Atiku Picked Peter Obi – Wike

Wike in the statement declared that the entire area along and around the Okoro-nodu flyover up to a one-kilometre radius from Saint Emmanuel Anglican Church, Rumuokoro, extending to the Rumuodomaya Slaughter and Local Government daily market will be affected.

He added that no form of trading, human or vehicular movement is allowed in the affected areas until further notice.

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Zamfara Governor Secures Release Of 11 Kidnapped Victims

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Zamfara Governor Secures Release Of 11 Kidnapped Victims

Bello Matawalle

Governor of Zamafara, Bello Matawalle has announced the release of 11 kidnapped victims.

According to reports, ten of the victims were male and a female from Bukkuyum Local Government Area.

Matawalle received the rescued kidnapped victims on Saturday night at the Government House in Gusau, the state capital.

The Commissioner of Security and Home Affairs, Abubakar Muhammed Dauran revealed that the victims were released without paying a ransom.

Also Read: Nigeria still needs SARS, Zamfara gov, Matawalle insists

He stated they were released as a result of the peace initiative and stakeholders meeting summoned by Governor Matawalle with all critical stakeholders from Bukkuyum Local Government Area on Thursday.

Governor Matawalle assured that his administration will not rest on its oars until total peace is achieved in all parts of the state.

 

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