The Nigeria Civil Aviation Authority (NCAA), has extended the Air Operating Certificate (AOC) of NG Eagle, an airline set up by Asset Management Corporation of Nigeria (AMCON) by six months, following its expiration.
The AOC which was seen by BusinessDay showed that the certificate which was signed by Musa Shuaibu Nuhu, Director General, NCAA was issued on 21st September, 2021 has its expiry date as 20th of September, 2023.
A source close to the NCAA who would not want to be mentioned said the NCAA has however extended the AOC of the prospective airlines by six months.
AMCON few days ago said it has sold the process of renewing the AOC process to an investor.
Speaking during an interactive session with the media in Lagos, Ahmed Kuru, the managing director, AMCON said in a bid to recover the over N300 billion debt accrued by Arik Air under Joseph Arumemi-Ikhide, its founder, AMCON had to set up an independent airline, NG Eagle and move the assets into the new airline.
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He said it took AMCON almost two years to follow the process of getting an AOC but got frustrated by allegations that the airline was set up to run a national carrier and this stalled kick-off of the airline despite getting the AOC.
“We branded three aircrafts that sat on the tarmac for two years. AMCON had no business with the national carrier. We were not encouraged. So, we found a way to sell the process of renewing the AOC process to someone who would continue flying it. If they do not meet the process of the AOC renewal, then it’s up to them,” he added.
Kuru however hinted that AMCON is ready to negotiate ownership with the leadership of Arik.
“The Arik issue looks like a situation where there is no way out. There is always a way out. It is just a question of give and take. What is important is for us to sit down with the owner of Arik, if he is ready and agree on what makes sense to him and to us and then we go back to the Central Bank and the Ministry of Finance and share the resolution.
“The two parties must have an understanding that they want to have a resolution but sometimes, we let go where we want the business to survive where you have more than 1,000 people working. Sometimes, when you look at the feasibility of keeping the business going, it also makes you give more concessions. But the other party must come with a mindset that they are ready for a resolution,” the AMCON MD said.
