Thursday, 31 August 2017

Ethiopia Airlines bids to take over Arik Air



Africa’s most efficient airline has triggered a takeover process of Nigeria’s ailing Arik Air by submitting a formal offer to bring the national shame under its management.

The Airlines’ managing director of international services Esayas WoldeMariam said “We are capable and desirous of handling the airline and we have outlined our terms and conditions to the Nigerian government and we are waiting to see if they agree”

Ethiopia airlines is one of the few feel good stories of Africa for the past few years (though their economy seat hurts my bum), they are making profits and expanding rapidly while our Arik is currently under AMCON management following government bailout in February because they could not pay salaries, service their debt and all sorts of problems you can associate with a Nigerian managed company.

Arik’s debt is close to $1 billion, if the federal government can guarantee that sum, Ethiopia airline can manage it into a profit making entity giving their precedent or we can just let it fail. Nigeria, a country of (conveyer belt workers association) SMH.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...