Recession: Third Airline, Arik Stops Operations
Featured, Latest Headlines, News Tuesday, September 13th, 2016
LAGOS, NIGERIA (AFRICAN EXAMINER) – Arik air has shut down its operations in Nigeria and West African sub region.
The development followed huge debts the airline owed its clients – the aviation fuel suppliers and and its insurance companies.
It is believed that the carrier is also stressed by other pressing debts.
Arik’s disrupted operations makes it the third within a month- after the Aero Contractors and First Nation similar distressed declaration.
However, the National Civil Aviation Authority (NCAA) has said the shutdown announcement by the first-two airlines was temporary.
Arik is one of the rated private Nigerian effective and efficient carriers.
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