Arik Airline has reportedly shut down its operations following its inability to pay its debt owned to its suppliers of aviation fuel and also the airlines insurers in Europe and elsewhere have reportedly withdrawn insurance cover from the airline forcing it to shut down operations altogether.
Hundreds of air travellers booked on Nigerian Arik airline were stranded across the country yesterday 13th September 2016, following the inability of the airline to airlift them to their destinations.
According to Sahara reporters, none of the airline’s aircraft has been operated to any destinations in Nigeria, West Africa and other routes. The situation was attributed to the massive debts of the airline to major oil marketers who regularly supply aviation fuel. It is alleged that the airline owes its suppliers of aviation fuel N3 billion. Most of the airline’s flights have been cancelled following these development.
In addition to the airline’s inability to buy for fuel, its insurers in Europe and elsewhere had withdrawn insurance cover from the airline forcing the airline to stop flight operations altogether.
Arik Air is the third airline to shut down flight operations in Nigeria in the last three weeks following the suspension of flight by Aero Contractors and First Nation.