Business

Arik Air Grounded By Aviation Minister Keyamo After Court-Mandated Assets Sale; AMCON, NAMA React

.

Arik Air has been ordered to ground its operations by the Minister of Aviation and Aerospace Development, Festus Keyamo. This directive follows a recent court ruling mandating the sale of Arik Air’s assets, including several aircraft, to settle debts owed to Arthur Eze and other creditors.

An Abuja court recently ordered the sale of Arik Air’s aircraft, hangar, and other movable assets. The targeted aircraft include B737-700/5N-MJF, B737-800/5N-MJQ, and Dash 8-Q400/5N-BKK.

The Asset Management Corporation of Nigeria (AMCON), managing Arik Air under receivership, expressed dismay at the sudden order. In a statement, AMCON’s CEO, Captain Roy Ilegbodu, highlighted the significant repercussions for passengers, employees, and the broader Nigerian economy. The decision disrupts critical domestic routes and raises travel costs, adversely affecting everyday Nigerians who rely on the airline.

AMCON underscored that the grounding order disregards ongoing judicial processes. Despite a Federal High Court directive to maintain the status quo regarding Arik’s assets, the Minister’s order undermines the rule of law and sets a dangerous precedent, prioritizing unsecured private interests over public good and creditor rights.

AMCON said, “The management of Arik Air (In Receivership) is dismayed by the sudden order issued by the Honourable Minister of Aviation to ground our Aircraft. 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.

The decision also disregards ongoing judicial processes,” the airline said.

Nigerian Airspace Management Agency provided additional context, noting that Arik Air’s aircraft were attached by court order to settle a $2.5 million debt owed to Atlas Petroleum International Ltd. The agency emphasized compliance with the Supreme Court order to preserve the aircraft, preventing their removal from jurisdiction or tampering.

The statement by NAMA read,“We understand too that Arik has obtained an exparte order stopping FURTHER EXECUTION of the order, though we have not been formally served. In the circumstances, since the first execution took place by attaching the aircrafts, further execution by way of sale can be halted whilst the parties go back to court to resolve the issues.

“However, in order to preserve the subject matter of the present dispute which are the aircrafts in question (the res), which have already been attached, we have decided to comply with the effect of the Supreme Court order, by grounding the aircrafts (subject of dispute) so that they are not taken out of the jurisdiction of the court or tampered with in a way as to frustrate the courts.

“Furthermore, the Minister, being a member of the Inner Bar himself understands the implication of the Supreme Court Order dismissing the motion for leave to appeal and will not risk his license as a legal practitioner or his privilege as a Senior Advocate of Nigeria by engaging in acts that will frustrate an order of the Supreme Court of Nigeria.

“The parties to the dispute are encouraged to resolve their issues as quickly as possible so that the Arik aircrafts in question can resume flight operations.”

Ozioma Samuel-Ugwuezi 

Follow us on:

Ozioma Samuel-Ugwuezi

View Comments

  • INFORMATION IS FROM THE NIGERIA PORT AUTHORITY.
    Royal umbrella=10,500
    Mama Gold=10,500
    Royal stallion=10,500
    Rising sun=10,500
    Special rice=10,500
    Mama Africa=10,500
    Elephant Gold=10,500
    Caprice =10,500
    NOTE: TRANSPORTATION CHARGES IS (#1,500)
    BALE OF CLOTHES FOR SALE
    • Toyota Land Cruiser-N3.5 million
    • Toyota Prado N1 million
    • Toyota Corolla –N550,000
    • Toyota Camry –N450,000-N1M
    • Toyota Avensis – N950,000-N1M
    • Toyota Yaris – N600,000
    • Toyota Venza – N1.5 million
    • Toyota RAV4 SUV –N950,000
    • Toyota Hilus Pickup-N750,000
    • Toyota Dyna Truck – N1.million
    • Toyota Hiace Bus – N1.150 million
    * Toyota Sienna-N900,000
    * Toyota Highlander-N950,000
    *Toyota Big daddy-N550,000
    Honda Civic cars – N450,000
    Honda Accord – N700,000
    Honda CR-V –N780,000
    Honda CR-V –950,000
    Honda Pilot – N900,000
    Honda City-N500,000.
    *Prices of some Volswagen cars:
    Golf 2,3,4,5-N250,000-300,000-N500,000
    Jetta-N350,000
    Passat-N450,000.
    Lexus RX300-N850,000
    Lexus RX330-N950,000
    Lexus RX350-N1.2 million
    Lexus GX460-N2.8
    Lexus GX470-N3.4
    Million
    Toyota Sienna = 700,000
    WE DELIVER TO 36 STATES
    YOU CAN CALL THE MARKETING OFFICER FOR MORE INFORMATION OR YOU ADD ME UP ON WHATSAPP O8O 6739 9O9O

Recent Posts

Court Dismisses Case Against Protesters Charged Over Protests, Releases Minors Charged With Treason

An Abuja court has struck out the case against #EndBadGovernance protesters as the AGF discontinued…

1 hour ago

Britain Detects Two Additional Cases Of New Mpox Variant, Total Reaches Three

The UK has confirmed two more cases of the new mpox variant, clade Ib

2 hours ago

Ekiti Chief Judge Oyewole Adeyeye Passes Away From Injuries Sustained In Court Building Collapse

Ekiti mourns as Chief Judge Justice Adeyeye dies, succumbing to injuries from a court building…

2 hours ago

Boeing Workers End Seven-Week Strike After Accepting 38% Pay Increase

Boeing workers have accepted a new contract with a 38% raise, ending a seven-week strike…

2 hours ago

Trial Underway for Eight People Accused of Inciting Murder of Teacher Samuel Paty

Eight individuals are on trial in Paris, accused of inciting the murder of teacher Samuel…

3 hours ago

Indonesian Government To Evacuate 16,000 Residents After Mount Lewotobi Eruption

Indonesia is evacuating 16,000 residents after Mount Lewotobi erupted, resulting in nine deaths and significant…

3 hours ago