Shareholders of Arik Air have strongly refuted the Asset Management Corporation of Nigeria’s (AMCON) claims of a ₦445 billion debt owed by the airline, accusing the agency of mismanagement and spreading falsehoods.
In a detailed statement, the shareholders alleged that AMCON has used disinformation tactics to mislead the public while failing to account for its management of Arik Air since forcibly taking control in 2017. They highlighted several grievances, including:
- Fleet Mismanagement: AMCON inherited 30 aircraft but has allegedly reduced the fleet to just three operational planes. This, they claim, has significantly diminished Arik Air’s route network and operational capacity.
- Financial Misrepresentation: The shareholders accused AMCON of falsifying financial records and ignoring court orders to file accurate financial reports. They noted that AMCON’s portrayal of the airline’s financial state before the receivership was misleading.
- Asset Mismanagement: The statement detailed instances of aircraft abandonment, seizure, and unaccounted-for spare parts, alleging negligence under AMCON’s receivership.
- Legal Challenges: The shareholders cited ongoing legal cases, including a ₦400 billion claim against AMCON in a London court, and emphasized their commitment to resolving disputes through the courts rather than public debates.
Shareholders reiterated that Arik Air was a thriving business before the takeover, with global recognition for operational excellence. They accused AMCON of running the airline into insolvency and called for transparency and accountability from the agency.
AT REPORTER
