The crisis in Nigerian aviation industry reminds one of the global aviation crisis of 2008 when airlines were grounded due to economic recession. As at then, Latin America has had the lowest losses worldwide which ended the year of 2008 on a positive trend...

Arik Air was taken over by Assets Management Company of Nigeria AMCON because the airline was owing it N146 billion, out of a total N352.5 billion owed global creditors, AMCON’s CEO Ahmed Kuru has said. He made this known at a meeting with the Senate...

The Assets Management Company of Nigeria (AMCON) has said that it would engage some foreign airline operators to manage Arik Airline which it took over recently. Speaking during a session with the House of Representatives aviation committee in Abuja, the Managing Director of AMCON, Ahmed...

The federal government has finally rescued the ailing Ark Airline from total collapse and immediately appointed Receiver/Manager to avoid the impending retrenchment in the aviation sector. Ark Air has been facing tremendous challenges, notably heavy indebtedness in recent times. Asset Management Corporation of Nigeria (AMCON), who...

Asset Management Corporation of Nigeria, AMCON, has expressed concern over failure of its debt recovery efforts. Consequently, the corporation is seeking the support of the Senate to review its enabling Act for the purpose of enhancing its debt recovery efforts. Managing Director/Chief Executive Officer of...

The Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Ibrahim, has said that time will soon run out on recalcitrant obligors of the Asset Management Corporation of Nigeria. He said this was because of the renewed commitment of the Senate to...