Ethiopian Airlines has announced that it has stopped further negotiations with Nigeria Government through Asset Management Corporation of Nigeria to manage Arik Air.
The Government of Nigeria through the Asset Management Corporation of Nigeria (AMCON), took-over the management of the airline to protect shareholders and investors fund.
Sequel to that, the Nigerian government approached Ethiopian Airline to assume the management of the airline on a management contract basis. However, Ethiopian Airlines
Group CEO Tewolde Gebremariam has revealed that his company ceased talks with AMCON due to the complex nature.
“We decided to stop the negotiation due to financial and legal complications,” he confirmed. However, Gebremariam said Ethiopian remains interested in starting an airline in Nigeria. “At least there are two initiatives that we are closely following,” he said.