Wings of Nigeria.

ARIK is to blame in all of these issues.

If it was being run well , professionally and smartly would they have come under AMCON administration??


Once your business starts doing well in Nigeria, do not court politicians' favours or use a large amount of that money to do giveaway to anyone.


The same issue the Cocoa Processing Plant at Lagos Ibadan Express , went under AMCON and went quiet.


You make small money, you send your kids abroad and pay their school fees from the company.


You gave expensive parties abroad and in Nigeria.


You start keeping girlfriends and boyfriends as lovers.



You move into an affluent neighbourhood.


You buy houses abroad.


Blame ARIK for ARIK'S problems.

PROUDIGBO:
They just wanted to finish off that airline and they succeeded! Sure the airline had issues and was struggling at the time....just like businesses in the US and Uk have struggled at a time of national economic downturn and were given support and bailout by their national gov'ts with conditions to be met! This was what happened with car manufacturers in the US like Ford, etc, and similar happened to Northern Rock and Royal Bank of Scotland in the UK!

There is no middle class in Nigeria to sustain the airline industry.
This is the basic fact we are fail to come to terms with.
No amount of bailout will keep afloat any enterprise with an unworkable model.
All airlines you see today are living on borrowed time.
That is why once they are established they quickly seek to fly international to tap into foreign markets because we just don't have one of our own.

But I guess this is not the concern of government or the interest of the people. We are all to relaxed in accepting that the ruling class has systematically wiped out the middle class in Nigeria since independence so that their feudal model of existence is sustained.
Have you ever asked why there are more private jets in Nigeria than the entire fleet of commercial airlines?
Pass through any major airport and see for yourself.
For a population of 200 million how many flight take off and land in Nigeria in a day.... just shocking.

Reference:


There is no middle class in Nigeria to sustain the airline industry.
This is the basic fact we are fail to come to terms with.
No amount of bailout will keep afloat any enterprise with an unworkable model.
All airlines you see today are living on borrowed time.
That is why once they are established they quickly seek to fly international to tap into foreign markets because we just don't have one of our own.

But I guess this is not the concern of government or the interest of the people. We are all to relaxed in accepting that the ruling class has systematically wiped out the middle class in Nigeria since independence so that their feudal model of existence is sustained.
Have you ever asked why there are more private jets in Nigeria than the entire fleet of commercial airlines?
Pass through any major airport and see for yourself.
For a population of 200 million how many flight take off and land in Nigeria in a day.... just shocking.

The growing middle-class pre 2015 is all but killed off today!

mrvitalis:

Best decision AMCON would have taken is simple

Take over the revenue side of the business ,strike a deal how much you would take from each ticket sales ,.while allowing arik team to still manage it's operations

Fidelity bank and airpeace have this agreement so it's not rocket since

But when people at AMCON got their through nepotism ,you don't expect them to be the best brains

Fidelity Bank didn't lend money to Air peace.
The money used in running it was amnesty money stolen during GEJ administration.

Fidelity does not have the kind of money air peace is spending. Aviation industry is too capital intensive.

Moreover, no way Fidelity Bank will lend billions to Onyeama, a man who never owned anything prior to the setting up of air peace.

The forex crisis that came about when buhari became president was one of the major things that killed the airline. It completely messed up their loan repayment plan.
I don't see them coming out of this

PROUDIGBO:
They just wanted to finish off that airline and they succeeded! Sure the airline had issues and was struggling at the time....just like businesses in the US and Uk have struggled at a time of national economic downturn and were given support and bailout by their national gov'ts with conditions to be met! This was what happened with car manufacturers in the US like Ford, etc, and similar happened to Northern Rock and Royal Bank of Scotland in the UK!

You are simplifying a complex issue.
No government bails out a struggling company that is not essential to the nations economy
or provide substantial employment.

There is a reason Lehman brothers was left to die.

COMPAQ:


AMCON should have leased out or outright sold the airline instantly, instead of trying to manage it.

Airline business is low margin and very technical. It needed the most experienced brains, which we don't really have

They're owing ₦300b, no way AMCON would recover that sum if the airline was sold.

the founder and owner of company is not longer there. so it becomes spoils for them to share. THIEVES !!

AMCON is just a THIEF !!!

ivolt:

You are simplifying a complex issue.
No government bails out a struggling company that is not essential to the nations economy
or provide substantial employment.

There is a reason Lehman brothers was left to die.

I argued 'bail out with conditions and/or the gov't taking majority control till whatever borrowed state funds are fully paid back'! A similar thing was done with the UK banks and some US motor manucacturing coys i previously mentioned! AMCON went in as a kind of undertaker....to dismember, finish off and bury the company!

tremilatre:
Without direct govt patronage, it's difficult for medium to large private companies to survive the Nigerian business climate. Dangote wouldn't have looked so good afterall if govt didn't create a monopoly in the sectors he ventured into. Successive govts literally handed the keys to the economy to him and his brothers. Now he is getting the keys to the petroleum downstream sector with the planned removal of subsidy.

No money in airline business and is too capital intensive.

Dangote will never go into it.

All the airlines in Nigeria, except Ibom air, were set up with stolen money.

No one will go to the bank to borrow money to start airline business.

Such move will kill the airline Quick.

Same Arik went for Airbus A330 and A340 that kill them most on JFK route and UAE route.
Useless management of Arik and most wicked management in the aviation industry.

LosC:
Apart from Nigeria Airways, Arik Air was the only flight that used to fly direct to New York

I don’t know if AirPeace is making such move to fly directly to the USA

Amcon is a Nigerian agency and as such is riddled with corruption also most of their staff got the job via nepotism so they can't give what they don't ve.


Pray for Nigeria

georgeakins:


Fidelity Bank didn't lend money to Air peace.
The money used in running it was amnesty money stolen during GEJ administration.

Fidelity does not have the kind of money air peace is spending. Aviation industry is too capital intensive.

Moreover, no way Fidelity Bank will lend billions to Onyeama, a man who never owned anything prior to the setting up of air peace.

Allen Onyema 'stole all that money from the amnesty programme'.....money even a bank couldn't compete with, as you posit!? You know the exact amount he 'stole' from amnesty, and what others stole too....or where others just sitting by watching Allen gather all that money in Ghana-must-go bags and walking away with it!?

PROUDIGBO:


Allen Onyema 'stole all that money from the amnesty programme'.....money even a bank couldn't compete with, as you posit!? You know the exact amount he 'stole' from amnesty, and what others stole too....or where others just sitting by watching Allen gather all that money in Ghana-must-go bags and walking away with it!?

Jonathan stole it to set up air peace

How could they have been working with a whooping 3000 + staff?
That was the basis of its downfall.
How much was Arik making to be able to pay 3000,maintain the aircrafts,pay fees,most times in foreign currencies in landing countries?
We are looking at about ₦2billion in salaries,maintenance and fees alone each month.Then factor in interest in loans.
I won't be surprised if they had to borrow money every month just to pay salaries.
Though amcon may not have helped,but the poor management and downfall of Arik started from its overbloated workforce and poor management ab initio.

slimfit1:
Buhari happened to the airline, may Buhari not happen to us again in Jesus name.

What are we going to do now that Bulaba is about to happen

slimfit1:
Buhari happened to the airline, may Buhari not happen to us again in Jesus name.

Omo, na real buhari do them.
3 or so years ago. E get 2m I had in a domant gt bank account. I took the money and bought $2k and 2k pounds sterling, I then put it in domiciliary acct.
Today that 2m can only buy $2k and 591 pounds sterling!
No be juju be that?
Buhari and apc do all of us shege, but some people no know.

Ciromaminna:
Arik used to be a frontliner in the Nigerian airway until this ugly circumstance

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It was never a front liner
It just had monopoly so you din have a choice

SultanOfAbia:
Na Air Peace kill Arik airlines

Air Peace is the Lord of the Sky..

Eze na efefe 1 of the Whole of Nigeria

how many new york or London flight e de make?

LosC:
Apart from Nigeria Airways, Arik Air was the only flight that used to fly direct to New York

I don’t know if AirPeace is making such move to fly directly to the USA

hopefully he gets there

Awon ajogun jera

tremilatre:
Without direct govt patronage, it's difficult for medium to large private companies to survive the Nigerian business climate. Dangote wouldn't have looked so good afterall if govt didn't create a monopoly in the sectors he ventured into. Successive govts literally handed the keys to the economy to him and his brothers. Now he is getting the keys to the petroleum downstream sector with the planned removal of subsidy.

what monopol
Lots of farmers
Lots of cement companies
Lots of oil companies
But they're all satisfied with local champion (mansion and land cruiser)

georgeakins:


Fidelity Bank didn't lend money to Air peace.
The money used in running it was amnesty money stolen during GEJ administration.

Fidelity does not have the kind of money air peace is spending. Aviation industry is too capital intensive.

Moreover, no way Fidelity Bank will lend billions to Onyeama, a man who never owned anything prior to the setting up of air peace.

Lol I don't have time to respond to hear

PROUDIGBO:
They just wanted to finish off that airline and they succeeded! Sure the airline had issues and was struggling at the time....just like businesses in the US and Uk have struggled at a time of national economic downturn and were given support and bailout by their national gov'ts with conditions to be met! This was what happened with car manufacturers in the US like Ford, etc, and similar happened to Northern Rock and Royal Bank of Scotland in the UK!

now you have inflation and recession
Say no to govt bailouts

PROUDIGBO:
They just wanted to finish off that airline and they succeeded! Sure the airline had issues and was struggling at the time....just like businesses in the US and Uk have struggled at a time of national economic downturn and were given support and bailout by their national gov'ts with conditions to be met! This was what happened with car manufacturers in the US like Ford, etc, and similar happened to Northern Rock and Royal Bank of Scotland in the UK!

now you have inflation and recession
Say no to govt bailouts
Let poorly run businesses die

georgeakins:


Fidelity Bank didn't lend money to Air peace.
The money used in running it was amnesty money stolen during GEJ administration.

Fidelity does not have the kind of money air peace is spending. Aviation industry is too capital intensive.

Moreover, no way Fidelity Bank will lend billions to Onyeama, a man who never owned anything prior to the setting up of air peace.

By the time Peace fails,they would attribute it to bad government or Amcon or even village witches,not knowing this is another entity built on a sandy foundation.
Is Peace airline actually solvent,despite its positive publicity blitz and PR stunts?I doubt but I may also be wrong

GreyLaw:
Nigeria is run by incompetent people from the very top to bottom.

The bane of Nigeria's problems are ethnicity which led to clannish regime and consequences are maladministration, insecurity and corruption to perdition level.

georgeakins:


No money in airline business and is too capital intensive.

Dangote will never go into it.

All the airlines in Nigeria, except Ibom air, were set up with stolen money.

No one will go to the bank to borrow money to start airline business.

Not saying he will go into the aviation sector, my point is the sector is so challenging, businesses would barely survive without the help of govt. Tax holidays, ease of importation for serviceable parts and technical expertise, reciprocity arrangements with countries who do not allow our airlines into their airspace etc etc these are but a few measures we can put in place to support our airlines. If airpeace for instance whose aircrafts meet airspace regulations for Europe and US is backed politically, I see no reason why they can't run global & intercontinental schedules.
Heck they can't even fly to Kenya, Ethiopia and SA yet those countries have airlines coming in.
These are the issues.

Reference:
Exactly what I have been saying for more than two decades now.
Nigeria has no foundation for a sustainable air transport business.

Next in the conveyor belt of skeletons will be Air Peace.
These airlines are trading and leveraging far above the realities of the Nigerian economy.
Transport of any kind is a mass market derivative. and in the air transport niche where margins are wafer thin the industry requires a thriving economy to be sustainable.

Unfortunately Nigeria does not have one and never has had one since independence so anyone investing is just living on borrowed time no matter what political patronage they presently enjoy and no matter how bottomless the apparent resources of the sponsors.
The fact that the present one on the throne is falling over itself to impress government shows it really does not have a solid, self sustaining model.

Go Airport and see as airpeace flights choke lol,they don't even have enough carriers and check in counter space to accommodate the crowd. Dey play
This your analyses holds no water.
Poor management killed arik,end of story.

ivolt:
If the ex-management of Arik were competent, they wouldn't borrow money they can't pay back.
They were using loans to cover up their failures.

AMCON is not there to run business but as a creditor hoping to recover back its loans.

Airline business is a very low margin business. It's expected that Amcon will crash the airline cos airline management isn't for creditors to manage. They should have employed technical partner to manage the airline.

Sad.. although I think that other airlines join to crash the airline to reduce competition

Ciromaminna:
Arik used to be a frontliner in the Nigerian airway until this ugly circumstance

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