Arik Air owes IATA US$78m, says AMCON
The Asset Management Corporation of Nigeria Monday said Arik Air, under its previous management, owed IATA US$78m. The airline was taken over Feb 9 by the federal govt under the auspices of AMCON as a result of its huge debt profile. AMCON appointed Roy Ilegbodu, a veteran aviation expert, to manage the airline under the receivership of Oluseye Opasanya. An Arik spokesman said the debt was for all aviation services provided under the platform of IATA, which recently suspended the airline from its Billing and Settlement Plan and Cargo Account Settlement System. “The airline was also in credit to their fuel suppliers and was not able to pay staff salaries for months. There was no good corporate governance in Arik as most decisions were single-handedly taken by the executive chairman.” <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-02-28/unaligned/arik-air-owes-iata-us-78m-says-amcon
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Arik Air owes IATA US$78m, says AMCON
The Asset Management Corporation of Nigeria Monday said Arik Air, under its previous management, owed IATA US$78m. The airline was taken over Feb 9 by the federal govt under the auspices of AMCON as a result of its huge debt profile. AMCON appointed Roy Ilegbodu, a veteran aviation expert, to manage the airline under the receivership of Oluseye Opasanya. An Arik spokesman said the debt was for all aviation services provided under the platform of IATA, which recently suspended the airline from its Billing and Settlement Plan and Cargo Account Settlement System. “The airline was also in credit to their fuel suppliers and was not able to pay staff salaries for months. There was no good corporate governance in Arik as most decisions were single-handedly taken by the executive chairman.” <br/>
