dre11:
••• operational aircraft, staff strength dip 81%, 85%



https://www.vanguardngr.com/2023/05/how-arik-air-became-moribund-under-amcon-in-5-years-investigation/

Alaba turn Arik company to im workchop

PROUDIGBO:


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!

What you argue is very close to what AMCON is doing, that is, to guarantee Arik loans.
The only difference is that they removed the airline management and took over which
is wrong because airline can't be ran by random inexperienced people.

ivolt post=122860882\

:
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.

You obviously miss the basics about the receiver-mager. amcon digs her own grave by creating herculean bottlenecks for firms and advisers with plenty wisdom/competence to help them achieve their objectives.They mistake large financial chest on balance sheet for competence and therefore severely restrict their pool of advisers.

in my view Nigeria simply happens to amcon/arik rather than best practices in receiver/manager. though my opinion,i did try to be fair.

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

the one wey won happen to una now go pass buhari .

Until all the injustice meted and being meted to Igbos are duly addressed, it will be downward trend. Even if the leaders mean well. It is not ordinary. If you like , insult me or shout “God forbid “. Howfar with those before Buhari? When Nigeria is close to getting it right , they will blow it to shreds. This is not ordinary

AMCON is like a deliverer that needs deliverance.. very funny organization

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

Hope you are aware we have a worse than Buhari lurking around.....

Glock22:


Got samples ?

sure please

The journalists could have tried harder by listing the names of people running AMCON.
Thos would have helped a great deal. But as usual, they hide under these names

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

Thiefnumbu is set to happen to Nigerians unless God intervenes.... And Thiefnumbu is Buhari Pro Max. Nigerians are in for a long and bumpy ride

1 word. Corruption.

Those that sold out everything due to imcompetence wanted to rescue a dieing company. How possible?

Ciromaminna:
sure please

Waiting

SeaTrade:
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.

I agree with what Reference said...

From my personal experience the only times Airpeace flights are usually fully booked is early morning first flights from major cities or the last flight of the day. Flights during the afternoons are usually not fully booked except on Mondays or Fridays.

If you compare the frequency of flight departures for Oliver Tambo Airport in South Africa or the International Airport in Frankfurt, Germany you will realise that only very few people in Nigeria can actually afford to travel by air domestically when compared to the two countries I mentioned meanwhile Nigeria's population is greater than that of the other countries

What I am saying in a nutshell is that for airline business to be commercially viable in Nigeria the economy needs to improve so that more people can afford to travel by air within Nigeria which will enable the airlines make more money due to higher frequency of domestic flights

AMCON should have liquidated / the airline from the get go months before the take over the airline was under water ' their debt to assets ratio was heavily lop sided they were owing every repair organization

Kobicove:


I agree with what Reference said...

From my personal experience the only times Airpeace flights are usually fully booked is early morning first flights from major cities or the last flight of the day. Flights during the afternoons are usually not fully booked except on Mondays or Fridays.

If you compare the frequency of flight departures for Oliver Tambo Airport in South Africa or the International Airport in Frankfurt, Germany you will realise that only very few people in Nigeria can actually afford to travel by air domestically when compared to the two countries I mentioned meanwhile Nigeria's population is greater than that of the other countries

What I am saying in a nutshell is that for airline business to be commercially viable in Nigeria the economy needs to improve so that more people can afford to travel by air within Nigeria which will enable the airlines make more money due to higher frequency of domestic flights

Airpeace flights are full round the clock.
You'd be very naive to expect any airport in Nigeria to have as much air traffic as Frankfurt airport that is a hub for an airline as big as Lufthansa ,that flies all worldwide routes, bringing people from world over to catch their connecting flights from there.
You think na Germans dey inside all those planes ?
Local flights in developed countries aren't such a thing because there's something called "rail",
If you've ever been to Europe,you'd notice that most airplanes air flying regionally,Germany to Spain,France,Holland,etc...This is politics.
There's some regional agreements that formed schengen which removed the political bottleneck for human movement, hence you'd have more frequent flights connecting large cities since people can now move with zero bureaucracy, Africa don't have that.
South Africa has South Africa Airways,that airport is their hub too,Same with Kenya,Ethiopia,Amsterdam Schipol that houses KLM,Nigeria has none...All those planes going to those airports are filled with people of different nationalities coming from different places trying to catch connecting flights and not locals.
Nigeria has a very robust middle class that can fly in planes easily, else Allen won't be buying planes up and down,
You're not smarter than him.

SeaTrade:
Airpeace flights are full round the clock.
You'd be very naive to expect any airport in Nigeria to have as much air traffic as Frankfurt airport that is a hub for an airline as big as Lufthansa ,that flies all worldwide routes, bringing people from world over to catch their connecting flights from there.
You think na Germans dey inside all those planes ?
Local flights in developed countries aren't such a thing because there's something called "rail",
If you've ever been to Europe,you'd notice that most airplanes air flying regionally,Germany to Spain,France,Holland,etc...This is politics.
There's some regional agreements that formed schengen which removed the political bottleneck for human movement, hence you'd have more frequent flights connecting large cities since people can now move with zero bureaucracy, Africa don't have that.
South Africa has South Africa Airways,that airport is their hub too,Same with Kenya,Ethiopia,Amsterdam Schipol that houses KLM,Nigeria has none...All those planes going to those airports are filled with people of different nationalities coming from different places trying to catch connecting flights and not locals.
Nigeria has a very robust middle class that can fly in planes easily, else Allen won't be buying planes up and down,
You're not smarter than him.

I don't know why people look down at Nigerian middle class as if they virtually don't exist.
Bro, Nigeria has a very large middle class but what people see mostly are poor people.
A guy I am on his WhatsApp group advertised Kenya tour and within 2 days, 4 people already paid for it. 1.5m per person and it has always been like that.
His Rwanda tour, Dubai tour etc likewise other tour groups I am in.
A sizeable percentage of Nigerians are doing well and living good life

emmaodet:


I don't know why people look down at Nigerian middle class as if they virtually don't exist.
Bro, Nigeria has a very large middle class but what people see mostly are poor people.
A guy I am on his WhatsApp group advertised Kenya tour and within 2 days, 4 people already paid for it. 1.5m per person and it has always been like that.
His Rwanda tour, Dubai tour etc likewise other tour groups I am in.
A sizeable percentage of Nigerians are doing well and living good life

People always judge the world from their immediate perspectives,
Next time when you see them doing that,just know where it comes from.

SeaTrade:
People always judge the world from their immediate perspectives,
Next time when you see them doing that,just know where it comes from.

Hmmmmmm

Has AMCON now paid the debt since they took over?

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.