TheCable

The house of representatives will pay a visit to Arik Air and Aero Contractors airlines for an on-the-spot assessment of both airlines.

Jones Chukwudi Onyereri, chairman of the house of representatives committee on banking and currency, made this known during a visit to the headquarters of the Asset Management Corporation of Nigeria (AMCON) in Abuja on Wednesday.

“As a matter of fact, apart from coming here (AMCON) today to carry out our routine oversight function, which necessitated this briefing with the management and staff of AMCON led by Mr. Ahmed Kuru, managing director, we need to particularly pay a visit to Arik and Aero Contractors airlines to know for ourselves and on behalf of all Nigerians what is going on at those airlines,” he said.

“There are positive reports emanating from the two airlines since the involvement of AMCON but it is our duty to ensure that the right things are done in both airlines for the continuous growth and development of the aviation sector and Nigerian economy in general.”

AMCON had taken over Aero Contractors in 2016 and Arik Air in 2017 when the Aero was immersed in heavy financial debt burden that threatened to ground operations.

“We are here to review the 2017 budget performance of the corporation vis-à-vis what was approved for them and the outcome would help the committee make projections and also provide guidance as the case may be against the budget defence slated for February 28,” Onyereri said.

Kuru said 2018 projections looked positive for the corporation as 2017 was challenging for businesses.

“2017 was quite challenging businesses in the country. At AMCON, we are sitting on a lot of assets because of the unstable liquidity situation and as you know most of our assets are challenged one way or the other. But with things looking up in 2018, AMCON’s projection looks positive. However, we will continue to be prudent in terms of our spending and running cost generally.”