Business

FAAN drags Arik Airline to court over huge Multi-billion naira debt

 

A Federal high court sitting in Lagos South West Nigeria has adjourned till 10th of February,2016. N11.2 billion, and $942,147.02 suit filed against Arik Airlines by Federal Airports Authority of Nigeria (FAAN).
According to the statement of claim filed on behalf of FAAN before the court by Ridwan Bello of Multi sector Law group, it was alleged that Arik airlines arrears for. Services and use of facilities at the Murtala Muhammed international Airport Lagos, Nnamdi Azikwe international Airport Abuja, Mallam Aminu Kano international Airport Kano,and Portharcourt international Airport between 1st of August,2008 and 18th August, 2015 have accumulated to N11,215,279,204  And $942,147.02.
The Airline was alleged to have denied FAAN the use of the revenue which the statute mandates FAAN to collect as a source of funds for its day to day running and upkeep of its operations
The break down of the Arik Airline’s indebtedness to FAAN is as follows, FAAN Direct Billing- N3,116,579,449.75, Outstanding under the era of Maevis Limited-N3,036,785,375.98 and N1,998,004,109.44 being unpaid landing fees and other fees for domestic operation. IATA Direct Billion- N1,809,998,414.07 and N89,593,597.50,
Consequently,FAAN is now urging the court to compel the Airline to pay its debts or else it will apply to the court for order of possession and sale of the Airline’s fleets of Aircraft in liquidation of the Airlines indebtedness.
FAAN is also demanding for the sum of N200million as legal fees for prosecuting this debt recovery suit.

Sahara Weekly

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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