AMCON takes over OAS Helicopters, seals its  premises

… as Arik suspends international flight operations

The Asset Management Corporation of Nigeria (AMCON) yesterday took  over the management of OAS Helicopters operating from Maryland, Lagos Nigeria.

BusinessDay gathered that the takeover followed a court’s order.

Yesterday there was a heavy presence of heavily-armed policemen guarding the premises while it was sealed off.

On the premises of OAS was this inscription: Possession taken today 14/2/17 BY AMCON BY COURT ORDER ON SUIT NO. FHC/4CS/1139/2016.

Jude Nwauzor, Head Corporate Communications, AMCON  confirmed the development, adding that  he was still getting details from the lawyers involved.

Nwauzor said the company is oweing AMCON, that was what informed the decision to takeover the company.

This development is coming barely five days after the corporation took over Arik Air over N300billion debt.

OAS is an indigenous aviation company registered by the Corporate Affairs Commission (CAC) on February 4, 1992 and licensed by the Nigeria Civil Aviation Authority (NCAA) to render flight services.

According to the company’s website, the entity’s flight outfit covers two areas of flight activities: rotary and fixed wing.

The rotary wing is operated under OAS Helicopters while the fixed wing is operated as Odengene Air.

The helicopter wing of the company (OAS Helicopters)commenced commercial flight in February 2006.

 The management of AMCON has also brought to the  notice of its travelling public, intention to suspend Arik’s international flight operations to enable the corporation find permanent solution facing  passengers as it will enable them to carry out a thorough assessment of 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.

“Consequent upon this, arrangements are being made to refund all international passengers of the airline that are 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.

 “The international route is very critical for the strategic turn around, growth strategy and stability of the airline. Therefore we intend to revisit the routes immediately we address all the problems inherited, which is affecting and creating more dissatisfied passenger base. We appeal to all passengers to kindly bear with us as the decision is to ensure that the airline adheres strictly to international aviation best practices,” Nwauzor stated in a statement sent to BusinessDay yesterday.