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AMCON gives condition for Arik owner to recover Airline

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The Assets Management Corporation of Nigeria (AMCON) has advised the Chairman of Arik Air, Johnson Arumemi-Ikide, to present a reasonable debt recovery plan in order to recover the airline.

Managing Director of AMCON, Mr Ahmed Kuru, gave the advice at a media interactive session in Lagos State.

The News Agency of Nigeria (NAN) recalls that AMCON, the special debt recovery vehicle of the Federal Government, took over Arik Air in February 2017.

The take over was part of measures to “save” the airline from “imminent collapse” citing gross mismanagement by Arik owners, and debt above…

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