Ethiopian Airlines Moves To Take Over Arik Air

Ethiopian Airlines, has launched a bid to take over ownership of one of Nigeria’s biggest airline, Arik Air, TheCable reports.

The company said it has offered a bid to the Nigerian government, and was just waiting for a response.

“We have outlined our terms and conditions to the Nigerian government and we are waiting to see if they agree. We are capable and desirous of handling the airline,” Esayas WoldeMariam, Ethiopian’s managing director told the CNN.

WoldeMariam did not specify details of the offer, but added that he expects to face competition for Arik from international airlines.

Arik was taken over by the Federal Government in February, following the company’s huge debt profile.

The government dissolved the airline’s management team, and appointed Capt. Roy Ukpebo Ilegbodu as its news receiver-manager.

Minister of Finance, Kemi Adeosun had some months back revealed that the government was speaking with some investors on the sale of the flagship airline.

“It was a preliminary discussion. They just expressed interest in buying the airlines and we told them that we would look into it.

“Most of them are interested in investing in Nigeria and they just want to be sure that the timing is right. Some are looking at buying one of the airlines with AMCON and just waiting to be sure that our policies are right,” Adeosun said at the World Bank/IMF meetings in April.