Embattled Arik Airlines which is owned by Johnson Arumemi-Ikhide has been put into receivership by the Federal Government.

This was announced today, Thursday as a lifeline to the distressed airline as it continues to be a going concern in the aviation industry.

According to Premium Times, the management of the Asset Management Corporation of Nigeria, AMCON, said the decision to intervene clearly underscores the government’s commitment to instill sanity in the country’s aviation sector to prevent a major catastrophe in the country.

AMCON spokesperson, Jude Nwauzor, said

The development will afford Arik Airlines, which is the largest local carrier in the country, to go back to regular and undisrupted operations, avoid job losses, protect investors and stakeholder funds as well as ensure safety and stability in the already challenged aviation sector


Under the new arrangement, the airline would be managed by Roy Ilegbodu, a veteran aviation expert, under the receivership of Oluseye Opasanya, a senior advocate of Nigeria.

The Chairman of the troubled airline, Joseph Arumemi-Ikhidethe has been invited for questioning by the Economic and Financial Crimes Commission (EFCC).