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Business News of Wednesday, 13 December 2017

Source: Class FM

Nigeria's Arik Air to resume intercontinental flights

Arik Air is considering resuming intercontinental flights just over ten months after a government-backed takeover forced it to retreat into the domestic Nigerian and regional West African markets.

Nigerian Minister of State for Aviation, Hadi Sirika, said earlier this week that government had engaged its counterparts in the United Kingdom over Arik's proposed return to the London Gatwick market. No timelines were disclosed.

Arik last offered regular flights to the UK capital in February of this year just prior to the Asset Management Corporation of Nigeria's (AMCON) decision to assume managerial control of the debt-ridden airline.

The move coincided with the termination of long-haul flights to London, Johannesburg O.R. Tambo, and New York JFK as well as the return of its widebody fleet of two A330-200s to Standard Chartered Aviation Finance.

Since then Arik Air has continued to operate a severely reduced narrowbody fleet consisting of just five active B737-700s and one active B737-800.

Its four other -700s are currently inactive as are its fleet of three B737-800s. Arik's fleet also includes one CRJ-1000ER, four CRJ-900s, and four Dash 8-400s.

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