from the BBC website......
Nigeria government takes over Arik Air
Posted at 15:22
Nigeria's government has taken over the country's biggest airline Arik Air, which has been experiencing financial difficulties in recent times.
A statement confirming the takeover says it was meant to bring stability to the country's aviation industry:
The move... clearly underscores the government’s commitment to instilling sanity in the country’s aviation sector and prevent a major catastrophe
and
Arik Air 'was overwhelmed'
Posted at 16:11
Nigeria's government has been giving reasons taking over Arik Air, the country's biggest privately owned airline.
In a statement, it said:
For some time now, the airline, which carries about 55% of the load in the country, has been going through difficult times that are attributable to its bad corporate governance, erratic operational challenges, inability to pay staff salaries and a heavy debt burden, among other issues, which led to the call for authorities in the country to intervene before Arik goes under like many before it.
The myriad issues confronting Arik Air of late range from confiscation of aircraft due to non-payment of leases, frequent flight delays, constant fracas between Arik staff and irate passengers at both local and international airports etc.
I shall make no comment about the governments ability to restore sanity in anything.