Nigeria takes controls of Arik Air to stabilise it ahead of sale

by | February 17, 2017 10:09 am

Nigeria’s “bad bank” said on Thursday it had taken over the day-to-day running of Arik Air in an attempt to rescue the country’s largest airline, which it placed in receivership last week after it was unable to pay workers or creditors. Michael Arumemi-Ikhide, the founder of Arik Air, has said the government seized the airline…

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