AMCON denies plan to sell Arik to Ethiopian Airlines

The Asset Management Corporation of Nigeria (AMCON) yesterday denied plan to sell Arik Air to one of the leading airlines in Africa, Ethiopian Airlines.

The AMCON also denied rumours of possible sale of the troubled airline to bidders, including recent claim by Ethiopian Airlines that it was in negotiation to acquire asset of Arik Air.

Ethiopian Airlines recently claimed to have submitted a formal bid to take charge of troubled local carrier Arik Air. Managing Director, Esayas WoldeMariam, told Cable News Network (CNN) that they had outlined terms and conditions of takeover to the Nigerian government and were waiting response.

Head, Corporate Communications of AMCON, Jude Nwauzor, said the corporation was unaware of any current discussion or negotiation with the management of Ethiopian Airlines regarding Arik Air Limited (Arik).