Aviation Safety Roundtable (ART) yesterday endorsed the takeover of Arik Air by Assets Management Corporation of Nigeria (AMCON).
According to its President, Mr Gbenga Olowo, the takeover was long overdue .
Olowo said :” We all saw it coming to Arik and may be others more than a year ago.
“Treating the Arik case in isolation will be to trivialize the magnitude of the problem. “Essentially, it is a Nigerian business environmental factor. Business and government are permanently at variance. Cost is permanently higher than income.
“Tax overburden and infrastructural deficit erodes revenue steadily. Gazetted policies that will enhance performance are not implemented.
“Credit is not in the Nigerian business dictionary. Yet aviation is prone to the most minute situation in the economy ranging from weather to politics, reckless holidays and so on.
“ Needless to say that lack of will to do things right by leadership is the undoing of Nigeria and ditto Nigerian airlines and businesses.
“It is a fundamental problem that needed surgical operation.”
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