While Nigeria slumbers without a national carrier, Africa’s leading airline, Ethiopian Airlines has submitted a formal bid to take over Nigeria’s flagship carrier Arik Air which has been in the thick of a debt storm due largely to poor management and non-adherence to corporate governance. Arik is said to account for over half of Nigerian air passenger traffic and operates both local and international flights.

Ethiopian Airlines’s managing director of international services, Esayas WoldeMariam, revealed on CNN that the airline has have “outlined our terms and conditions to the Nigerian government and we are waiting to see if they agree.

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

There are no indications yet that foreign airlines have submitted bids to take over the airline which is now under the management of AMCON following the debt of over N400billion, owed local and foreign creditors.

Arik’s Managing Director, Captain Roy Ilegbodu was reported in August as saying that the company had stabilised under AMCON’s leadership, with services running smoothly and salaries paid. It now carries an average of 4,000 passengers daily. It has the largest fleet of 14 aircraft, although 10 of them, according to Ilegbodu, are operational at any time.

The Arik boss also disclosed a forensic audit of the airliner carried out by the KPMG.

“They have come up with a draft report and within the next few weeks, the final report will be out and will be available to the public.”