Arik Air Cleared to Resume Flights Following Settlement with Creditors
The Nigerian Civil Aviation Authority (NCAA) has officially authorized Arik Air to resume domestic flight operations, concluding a weeklong suspension. This approval marks a significant development for the airline, restoring its operations amidst recent financial challenges.
Resolution of Financial Disputes
The green light for Arik Air’s return to the skies came after successful negotiations involving aviation minister Festus Keyamo, NCAA director-general Chris Najomo, and representatives from Nigerian fuel provider Atlas Petroleum International, the airline’s creditor. These discussions led to a satisfactory resolution that addressed the concerns of all parties involved. Michael Achimugu, NCAA’s director of public affairs and consumer protection, confirmed the news, stating, “Arik is good to go,” and highlighted the collaborative efforts that facilitated this outcome.
Achimugu further mentioned that the necessary notifications had been sent to all involved parties and that the NCAA is committed to protecting the interests of all stakeholders. He acknowledged the financial toll the grounding had taken on the airline, expressing relief that an agreement had been reached.
Details of Resumed Flight Operations
Arik Air is set to resume its operations with a schedule for August 8, including several domestic flights:
- Flight ARA721 from Abuja to Lagos, operated by Boeing 737-800 with registration 5N-MJQ.
- Flight ARA743 from Port Harcourt Awolowo to Lagos, utilizing Boeing 737-700 registered as 5N-MJF.
- Flights ARA733 and ARA736 between Lagos and Abuja, serviced by DHC-8-Q400 with registration 5N-BKX.
These flights mark the airline’s immediate response following the lift of the grounding order which was initially imposed by the Nigerian Airspace Management Agency (NAMA) on July 30. This action was taken in response to a June 25 Federal Supreme Court order to sell three of Arik Air’s aircraft to recover a USD 2.5 million debt owed to Atlas Petroleum.
Ongoing Management under AMCON
Since 2017, Arik Air has been under the management of the Asset Management Corporation of Nigeria (AMCON), a federal state-run entity. This oversight was part of broader efforts to stabilize the airline financially and ensure its operational continuity amidst previous management challenges.
As Arik Air resumes its flight operations, the focus remains on maintaining stability and building confidence among passengers and stakeholders, ensuring the airline remains a key player in Nigeria’s aviation sector. The successful negotiation and resolution of the airline’s recent challenges highlight a positive step forward in managing corporate disputes within the industry.
Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com