Court Orders Nigerian Government to Take Over OAS Helicopters

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….. As Arik Air suspends International operations

The Asset Management Corporation of Nigeria, AMCON has taken over Odengene Air Shuttle Services, OAS Helicopters in Lagos following a court order.

The management of AMCON on Tuesday sealed the helicopter company’s headquarters at Maryland in Lagos, with a court order indicating that the company has been taken over by AMCON.

The Order on the company’s office reads: “POSSESSION TAKEN TODAY 14/2/17 BY AMCON BY COURT ORDER ON SUIT NO. FHC/4CS/1139/2016.

The company was among the airlines that received the federal government’s aviation sector intervention fund during the tenure of President Goodluck Jonathan.

OAS is one of the leading privately owned helicopter chatter service companies in the country.

It will be recalled that AMCON had on Thursday February 9 also taken over the management of Arik Air to bail the airline out of what it described as an imminent collapse, due to heavy indebtedness to leasers and insurance providers.

AMCON had earlier taken over the management of Aero Contractors in February 2016, before it suspended full operations indefinitely six months later.

Last year the federal government disclosed of plans to float a new national carrier.
The take-over of domestic airline companies here and there have fuelled speculations of the federal government’s plan of floating a new national carrier, despite denials from aviation ministry officials.

Meanwhile the management of Arik airlines has announced its intention to suspend its international flight operations to enable them find permanent solution facing passengers.
A statement by the management of the Arik airlines said the suspension will enable it thoroughly assess the situation.

“The strategic business decision is meant to realign our operations and refocus on satisfying our domestic and West Africa and other international passengers. It will also present Arik with excellent opportunity to engage and discuss with creditors who have become restive since the intervention and have also understandably exhausted their patience due to non-payment of accumulated debt and non-performance on services and contracts”

The statement said arrangements were being made to refund all international passengers of the airline that were affected by this decision.

“To our international creditors, Arik is most grateful for your patience and understanding. We reassure them that all pending issues with the airline will be duly addressed as a matter of priority as we plan to engage them in this regard”

It further stated that the international route was very critical for the strategic turn around, growth strategy and stability of the airline saying that the airline intended to revisit the routes immediately all the problems inherited were addressed.


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