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Nairaland Forum / Nairaland / General / Travel / How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard (17098 Views)
Arik Air Keeps Mum On AMCON’s Planned International Airline / Arik Air To Be Renamed Nigeria Eagle / No AC On The Plane Arik Air Put Us - Man Laments (2) (3) (4)
How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by dre11(m): 10:55am On May 01, 2023 |
••• operational aircraft, staff strength dip 81%, 85% Barely five years after the Asset Management Corporation of Nigeria, AMCON, took over the management of Nigeria’s domestic airline, Arik Air, the airline has become almost moribund under the new receivership. https://www.vanguardngr.com/2023/05/how-arik-air-became-moribund-under-amcon-in-5-years-investigation/ 2 Likes 2 Shares
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Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by money121(m): 10:58am On May 01, 2023 |
Wahala 1 Like |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by slimfit1(m): 11:17am On May 01, 2023 |
Buhari happened to the airline, may Buhari not happen to us again in Jesus name. 112 Likes 5 Shares |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by Nobody: 12:08pm On May 01, 2023 |
Amcon no get business sense. If investigated well, they siphon the money of that company to their private purses. 51 Likes 1 Share |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by ivolt: 12:18pm On May 01, 2023 |
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. 40 Likes 3 Shares |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by mrvitalis(m): 12:53pm On May 01, 2023 |
ivolt: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 91 Likes 3 Shares |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by kerry57: 1:05pm On May 01, 2023 |
Anything given to Nigerian govt to manage will surely die because there isn't accountability anywhere by anybody to somebody. Nigeria would have died if not for the continuous drilling of oil which is used in covering up for the looses, but oneday Nigeria will fail if we continue like this. 34 Likes 1 Share |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by Kennyfancy(m): 1:05pm On May 01, 2023 |
Ok now |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by yureli: 1:06pm On May 01, 2023 |
Great journalism! 6 Likes 1 Share |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by GreyLaw(m): 1:06pm On May 01, 2023 |
Nigeria is run by incompetent people from the very top to bottom. 26 Likes |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by SultanOfAbia: 1:07pm On May 01, 2023 |
Na Air Peace kill Arik airlines Air Peace is the Lord of the Sky.. Eze na efefe 1 of the Whole of Nigeria 12 Likes 3 Shares |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by Shellsploit: 1:07pm On May 01, 2023 |
Useless amcon |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by omoadeleye(m): 1:07pm On May 01, 2023 |
Lots off assets for AMCON to manage 1 Like |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by mrsage(m): 1:08pm On May 01, 2023 |
Sad |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by LosC: 1:08pm On May 01, 2023 |
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 17 Likes |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by money121(m): 1:09pm On May 01, 2023 |
Ok |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by chuose: 1:09pm On May 01, 2023 |
Where is the Air Nigeria that the man from Niger Republic promised us? slimfit1:Amen oh. Now they want to force the Drug Lord on us to make us a narco state 11 Likes
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Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by Mitchy49(m): 1:10pm On May 01, 2023 |
Ok |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by tremilatre(m): 1:10pm On May 01, 2023 |
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. 8 Likes 1 Share |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by MasterJayJay: 1:11pm On May 01, 2023 |
The management of amcon sold arik aircrafts and pocketed the money. 5 Likes |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by ManTiger(m): 1:12pm On May 01, 2023 |
Business owners run down their company, call amcon to buy over the debt, amcon look for new investor then the old guy come back under a new name then the cycle continues. 4 Likes |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by NisewaVader: 1:13pm On May 01, 2023 |
Air peace taking the lead 3 Likes |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by Reference(m): 1:15pm On May 01, 2023 |
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. 14 Likes |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by InvertedHammer: 1:15pm On May 01, 2023 |
/ If ARIK's management performed well, AMCON wouldn't have stepped in. The blame is on ARIK. Afterall AMCON is not an Airline Management company. They are doing their best to recover debts. / 3 Likes |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by Chizzyferd(m): 1:15pm On May 01, 2023 |
1 Like |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by PROUDIGBO(m): 1:16pm On May 01, 2023 |
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! 8 Likes |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by WhiteAngels001(m): 1:18pm On May 01, 2023 |
God will help us. I believe. Check out this distress deals on Xiaomi and Google pixel https://www.nairaland.com/7661598/distress-sales-xiaomi-mi-11 |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by GloriousGbola: 1:19pm On May 01, 2023 |
Arik air was always a shit airline delays, frustrated staff one time right infront of us two frost desk workers started arguing it is people who never flew the airline that can be deceived by these stories of the inevitable failure of an airline that was mismanaged from the start 7 Likes 1 Share |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by FLYFIRE(m): 1:21pm On May 01, 2023 |
Is there any sector that APC DID NOT DESTROY in Nigeria in eight years? That is what you get when you have illiterates with ZERO IQ run your affairs. 11 Likes 1 Share |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by COMPAQ(m): 1:21pm On May 01, 2023 |
dre11: 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 1 Like |
Re: How Arik Air Became Moribund Under AMCON In 5 Years — Vanguard by gasparpisciotta: 1:22pm On May 01, 2023 |
COMPAQ: Fed and state are very bad at managing businesses 2 Likes |
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