The Federal Government has directed the immediate suspension of operations of Arik Air.
Minister of Aviation and Aerospace Development, Festus Keyamo, gave the directive on Tuesday.
However, no reason was given for the directive.
Reacting to the development in a statement, Roy Ilegbodu, Chief Executive Officer (CEO) of Arik Air (in receivership), said the minister’s directive came without warning or consultation.
Ilegbodu said the decision would have a ripple effect on the company and the country’s economy.
“The management of Arik Air (In Receivership) is dismayed by the sudden order issued by the honourable minister of aviation to ground our aircraft,” Ilegbodu said.
“This decision, made without warning or consultation, has serious repercussions for our valued passengers, dedicated employees, and the broader Nigerian economy.
“Our priority has always been to connect people and facilitate commerce, especially on critical domestic routes.
“The grounding of our fleet disrupts these vital services, leaving passengers stranded and inflating already high travel costs.
“This decision hurts everyday Nigerians who rely on our flights for business, family, and essential activities.”
In 2017, the federal government took over Arik Air, via the Asset Management Corporation of Nigeria (AMCON), due to the company’s huge debt profile, estimated at over N300 billion.
After the takeover, the government immediately dissolved the airline’s management team and appointed a receiver manager.
The Arik Air’s CEO stated that the minister’s decision to ground the airline also “disregards ongoing judicial processes”.
“On February 26, 2016, a judgment was made in favor of Atlas Petroleum International Limited and Engineer Arthur Eze,” he added.
