Arik Air fleet receives massive boost ahead of festive season

***L-R:*** Alan Giordmaina, Head, Commercial Project Management, Lufthansa Technik AG, Malta; Stephan Schulze, Senior Sales Executive, Corporate Sales, Lufthansa Technik A; Rolf Weirhauch, Sales Executive, Corporate Sales, Lufthansa Technik AG; Francis Esoh, Senior Manager, Credit Quality Assurance, Afreximbank; Ali Magashi, Member, Technical Advisory Committee, Arik Air; Roy Ilegbodu, CEO, Arik Air; Marcus Motschenbacher, CEO Lufthansa Technik AG, Malta when Arik Air team went to take delivery of the Boeing 737-800 from Lufthansa Technik maintenance facility in Malta.

Nigeria’s recuperating airline, Arik Air, has announced its readiness to impress the flying public in this festive season and beyond, having received two aircraft from C-Check over the weekend.

A statement from the airline says “the two aircraft include a Q-400, while the Boeing 737-800 check was conducted by Lufthansa Technik AG in Malta.”

The airline, which has been under receivership with the Asset Management Corporation of Nigeria (AMCON) since February 2017 due to crippling debts running in billions, has shown signals of reclaiming its former glory.

The airline said its current receivership management has been up to the task of acquiring and maintaining an airworthy fleet to boost its chances of resuming operations fully.

The statement says: “Over the last two years, the current management has been working hard to improve the number of serviceable aircraft in the airline’s fleet. The efforts are yielding results.

“The Arik fleet is nearly mid-life and such require a major overhaul of engines, landing gear, etc. Unfortunately, Arik in addition to being overburdened 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 Asset Management Corporation of Nigeria (AMCON).

“The management’s effort is bearing fruits with 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.

“Since the current management took over the airline’s operation, its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) has been positive, a catalyst for the restoration of customers’ confidence.

“The airline’s On-Time Performance (OTP) is said to be 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.

“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 as a result of the extended layover.”

The Chief Executive Officer of Arik, Capt. Roy Ilegbodu said the airline was pleased to announce the return of some of its airplanes, following positive resolution of its 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 an improved schedule in our domestic and regional network and excellent customer experience.”