Arik Air: AMCON Denies Takeover Talks With Ethiopian AirlinesThe Asset Management Corporation of Nigeria (AMCON) has denied it has opened talks with Ethiopian Airlines over the take over of the management of distressed Arik Air Limited. AMCON in a statement late Monday refuted media reports credited to CNN last week that it had received a formal offer by Ethiopian Airlines to take charge of Arik Air. “Contrary to these reports, the Asset Management Corporation of Nigeria (AMCON) is not aware of any current discussion or negotiation with the management of Ethiopian Airlines regarding Arik Air Limited (Arik),” the statement added. It could be recalled that Arik Air was placed in receivership last February, following the airline’s inability to repay debts in excess of N300 billion to AMCON and other creditors in Nigeria and around the world. The general public and all stakeholders will be kept duly informed on issues relating to the airline’s divestment plan,” Nwauzor added.

Source: Ethiopian News September 05, 2017 06:56 UTC