By David Stephen.
West Africa’s number one airline by number of fleet, Arik Air, will be going public in a few weeks. This, according to news reports and filings with Akintola Williams Deloitte, is in the process. Arik Air, will be going public as – arguably – the best Airline in Nigeria, with 23 fleets and 120 daily flights to local regional and intercontinental routes.
The public offering will further guarantee the long term stability of the airline, it will enable it get more money to purchase newer airlines, it will get the airline to grow its standard to rival international airlines and it will have it hire more skilled people. This first in Nigeria, which has been for several other airlines globally, will be a new direction for air travel growth in Nigeria.
Arik Air listing on the stock exchange was hinted last year by the Chairman, Sir. Joseph Arumemi-Ikhide, and was recently confirmed by the spokesperson, Ola Banji who said: “We are discussing with our financial advisers and will come out with a statement at the appropriate time.”
Arik Air was founded in 2006, and was the first Airline in Africa to operate Airbus A340-500, Bombardier CRJ900 and Q400.