AMCON to begin new international airline with Arik, Aero planes

Information reaching Checkout Magazine has it that the Asset Management Corporation of Nigeria is set to launch a multibillion naira airline.

An exclusive report by PUNCH has it that the airline will operate by using aviation assets especially planes in debt-ridden Arik Air and Aerocontactors Airlines.

The report further reveals that the air carrier will be named Nigeria Eagle, and may begin operations with at least 10 planes as early as June.

AMCON is expected to make an official statement on the deal very soon.

It was learnt that AMCON, a Federal Government-owned bad debt manager which owns controlling stakes in both Arik and Aero, chose to establish the new airline as a means to offset the bad debt owed by the two carriers.

The debts are believed to be hindering new buyers from showing interest in the two carriers which AMCON has been willing to sell to new investors.

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