Maureen Ihua-MaduenyiIndications have emerged that Ethiopian Airlines may acquire Arik Air, which is currently being managed by the Asset Management Corporation of Nigeria. The Managing Director of International Services, Ethiopian Airlines, Esayas WoldeMariam, was quoted by the CNN on Thursday to have said that the airline had submitted a formal offer to take over the carrier. If the major stakeholders are not aware, then who did Ethiopian Airlines approach for the takeover?” the source said. Few weeks after the takeover of Arik in February, it was reported that Ethiopian Airlines rejected offer by AMCON to invest in Arik. The Arik’s founder, Joseph Arumemi-Ikhide, was also quoted to have said the plan by the government to have Ethiopian Airlines manage Arik had failed, and that he would sue the East African airline if it tried to take over Arik.

Source: Ethiopian News September 01, 2017 00:11 UTC