Arik Managing Director, Chris Ndulue, who disclosed at a briefing to mark the ten years anniversary of the airline, said the airline has grappled with a myriad of challenges in one decade of existence citing access to foreign exchange as the greatest hurdle militating against the growth of air transport business.
Ndulue spoke of plans by the airline to grow its fleet from the current 28 aircraft to over 52 by 2025. He said the effects of the current economic recession would require Arik to be cautious in any expansion drive.
The Arik Air boss said the airline intends to expand its flight operations in West and Central Africa as well as new frontiers in Asia and the Middle East in the years ahead .
“Our goal in the last years has been to pursue safety and security . This has seen us take several steps to up the game. We are hoping to expand our operations into West and Central Africa as well as Asia and Middle East,” he said.
“We have taking a new approach to be cautious in our expansion drive because of the realities of the current recession .
“This has made funding a big issue , that is the reason we are slowing down .
He added that the management of the airline will find solutions to the funding gap . This has made the carrier look outside Nigeria to get bank loans without local bank guarantee.
