Senior Sales Executive, Corporate Sales, Lufthansa Technik A,Stephan Schulze; Sales Executive, Corporate Sales, Lufthansa Technik AG, Rolf Weirhauch; Senior Manager, Credit Quality Assurance, Afreximbank, Francis Esoh;
Member, Technical Advisory Committee, Arik Air, Ali Magashi;
CEO, Arik Air, Roy Ilegbodu and
CEO Lufthansa Technik AG, Malta,
Marcus Motschenbacher,
when Arik Air team went to take delivery of the Boeing 737-800 from Lufthansa Technik maintenance facility in Malta, recently.
Efforts of the management of Arik Air at re-positioning the airline as the leading airline in West and Central African sub-region may have started yielding results as there are indications that its receiver, Assets Management Corporation of Nigeria (AMCON) may soon take its exit, African Business Travel News (ABTN) has learnt.
ABTN learnt that the unfolding development became manifest after the management of the airline has secured a positive debt resolution with African Export Import Bank (AFREXIM) and strong support from Lufthansa Technik AG.
Confirming the new development in a press release made available to www.africanbusinesstravel.com the media consultants to the airline, SY&T stated: “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 70% – from as low as 30%; load factors on domestic routes are over 80%, flight cancellations are down to less than 1% from over 40%, 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.”
With two more of its aircraft returning from C- checks preparatory to return to its old routes during the yuletide season, and two more aircraft expected to return from C-checks in the next few weeks – one at the end of the year, and another in January, the airline is actually re-positioning itself to a big return to many of its abandoned routes.
The two aircraft received include a Q-400, while the Boeing 737-800 check was conducted by Lufthansa Technik AG in Malta.
The statement added, “The Arik fleet are nearly mid – life and such require major overhaul of engines, landing gear, etc. Unfortunately, Arik in addition to being over burdened 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 AssetManagement Corporation of Nigeria (AMCON).
“The Boeing 737-800 had been in Malta with Lufthansa Technik AG since 2015 before the current management came on board, and its return is a huge testimony of the achievements of the current management due to the high cost of C check of as a result of extended lay over”.
Speaking on the new development, Chief Executive Officer of Arik, Capt. Roy Ilegbodu said: “We are pleased to announce the return of of some of our airplanes, following 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 travelers in this festive season, and we are ready for the challenges ahead with improved schedule in our domestic and regional network and excellent customer experience”.
