A Nigerian local airline operator, Arik Air has reportedly shut down operations following an inability to pay for its running costs.
An increase in operational cost, driven up by a weakening Naira has severely impacted Nigeria’s aviation sector. Aero contractors shut down operations a few weeks ago, closely followed by First Nation Airlines.
Arik reportedly owes N3 billion in insurance and has also found it i,possible to pay suppliers for aviation fuel. Customers who bought tickets from the operator are also stranded across the country as the airline has remained silent.