Yuletide: 4 yrs after, Arik Air receives additional 2 aircrafts

Arik has received two aircraft from C-Check including a Boeing 737-800 which had been in Malta withLufthansa Technik AG since 2015.

The aircraft was taken out for checks before the current management came on board, and its return has been described as a huge testimony of the achievements of the current management due to the high cost as a result of extended layover.

Arik Air said the arrival of the aircraft will boost the operations of the airline in the coming festive season.

Over the last two years the current management has been working hard to improve the number of serviceable aircraft in the airline’sfleet. The efforts are yielding results.

The Arik fleets are nearly mid-life and such require a major overhaul of engines, landing gear but unfortunately, Arik in addition to being overburdened by debts had no reserves.

The company was simply in a fix. The significant work done to date has therefore been the result of prudent management of resources and the support of Asset Management Corporation of Nigeria (AMCON ).

Since the current management took over the airline operation its Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) is positive, customers’ confidence has been restored On-Time Performance (OTP) is over 70per cent – from as low as 30per cent; load factors on domestic routes are over 80 per cent, flight cancellations are down to less than 1 per cent from over 40per cent, Salaries are paid as at when due, pensions are being remitted, all current obligations are being met and the company is prepared for AMCON exit.

The Chief Executive Officer of Arik, Capt. Roy Ilegbodu said: “We are pleased to announce the return of some of our airplanes, following a positive resolution of our outstanding debts with African Export-Import Bank (AFREXIM) and strong support from Lufthansa Technik AG.

“ We are aware that our services are critical to numerous travellers in this the festive season, and we are ready for the challenges ahead with an improved schedule in our domestic and regional network and excellent customer experience. ”