Armed Policemen storm Arik Air as federal government takes over the troubled airline

The Federal Government has announced a take over of Arik Airline, which has recently been experiencing difficulties. According to the Minister of State for Aviation, Hadi Sirika, the government’s decision to take over the management of Arik Airlines would stabilise its operations, enhance its long term economic value, revitalise its ailing operations, and sustain safety standards, in view of its pivotal role in the Nigerian aviation sector.
The intervention, according to the Asset Management Corporation of Nigeria (AMCON), clearly underscores the government’s commitment to instilling sanity in the country’s aviation sector and prevent a major catastrophe. The airline will now be managed by Roy Ukpebo Ilegbodu, an aviation expert, under Mr Oluseye Opasanya, a Senior Advocate of Nigeria (SAN).

The Minister of State for Aviation, Hadi Sirika expressed the belief that the development will bring about stability in the airline.

It's also on record that Arik Air is owing AMCON to the tune of N139Billion which has now made the Federal Government’s agency to take over the airline.

LIB also gathered that top management staff of the airline have been apprehended.

Read the full statement below...