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Recession: Third Airline, Arik Stops Operations

LAGOS, NIGERIA (AFRICAN EXAMINER) – Arik air has shut down its operations in Nigeria and West African sub region.

The development followed huge debts the airline owed its clients – the aviation fuel suppliers and and its insurance companies.

It is believed that the carrier is also stressed by other pressing debts.

Arik’s disrupted operations makes it the third within a month- after the Aero Contractors and First Nation similar distressed declaration.

However, the National Civil Aviation Authority (NCAA) has said the shutdown announcement by the first-two airlines was temporary.

Arik is one of the rated private Nigerian effective and efficient carriers.

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