[FONT='Verdana','sans-serif']All,
keeping issues as simple as possible, ARIK having access to "FUNDS" has grown to a large airline by West African Standards. They have used this clout not to service their debts.
Their chairman received a contract from the FGN of over 230billion N.
They are so big relatively, that should they be shut down, they will affect the economy of Nigeria.
I'm sure surely not understands what I’m saying.
Look at Bellview. How many times have they come to a standstill, yet always come back. Normally I would expect that they declare bankruptcy and come back under a different name, but not in our own case.
This is not a level playing field.
It would be nice to see Arik servicing their debts though; at least this will give them a longer term of survival.
Denim though expensive must have cash to operate. Hence their demise. Will they be back, I assume yes in some form or the other. you must understand that quite a number of people in denim are ex schreiner.
The burning of a forest leads to a regeneration of new saplings.[/FONT]
JABAG
Last edited by JABAG; 28th Feb 2010 at 16:43.