Ethiopian Airlines submits bid to buy Arik Air

Ethiopian Airlines has submitted a formal offer to acquire Arik Air.

Official statistics show that Arik Air lifts half of Nigerian air passenger traffic on the domestic route.

“We have outlined our terms and conditions to the Nigerian government and we are waiting to see if they agree,” Esayas WoldeMariam, Ethiopian’s managing director of international services told CNN.

“We are capable and desirous of handling the airline,” he added.

WoldeMariam did not specify details of the offer, but added that he expects to face competition for Arik from international airlines.

Asset Management Corporation of Nigerian (AMCON), took over running of Arik Air in February over debts.

In April, the Receiver Manager of Arik Air, Mr Oluseye Opasanya (SAN), said the embattled airline was indebted to its creditors to the tune of N375 billion.