Arik Air shut down all the operations in Nigeria and West Africa
The airline owes massive debts to all its suppliers of fuel
Additionally, the insurers of the airline in Europe and elsewhere had withdrawn insurance cover from the airline making it to stop flight operations
Arik passengers are now stranded across Nigeria
Arik Air, West-Africa’s leading airline, has just confirmed that it is suspending flight operation due to its inability to immediately renew its aircraft insurance, Vanguard reports.
The airline in a statement by its spokesman, Adebanji Ola said: “Arik Air, West and Central Africa’s largest airline has alerted all air travelers of a temporary disruption to its operations, pending approval of aircraft documentation related to insurance renewal. The airline said that it was working around the clock to resolve the necessary documentation, which has been a challenge due to the long weekend holidays due to Ed al Adha.
“This situation is likely to continue for the next few days until such time that NAICOM (National Insurance Commission) approves a waiver on a priority basis for the new insurance company to renew the policy.
“The Group CEO has apologised and appealed (on behalf of the airline) for the understanding of passengers while it works diligently to resume normal operations at the earliest.”
According to Sahara Reporters, Arik Air, stopped its operations as its fuel suppliers and Insurers have withdrawn their services.
Hundreds of air passengers, who booked on Nigerian Arik airline, are now stranded across Nigeria due to the inability of the airline to fly them to their destinations.
Massive debts of the airline to major oil marketers who regularly supply aviation fuel are partially responsible for the current situation of the airline.
The airline has massive debts to key oil traders who supply aviation fuel, that are partially responsible for current state of the affairs of the Arik.
A source close to the oil traders revealed that the airline now owes at least N3 billion to all its contractors, a situation, which has made them not to supply Jet A1 to the airline.
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