Poor Arik Air, it is possibly going out of business or exceedingly diminished. Air Peace is also on life-support. While America prints dollars sharing with defenders of good-time capitalists – agents of share buybacks and big dividend payers to crony disciples – but messengers of bad-time decadely socialism, Air Peace and Arik are on their own in Nigeria.
Yes, men who make $43 million per year because they “deserve all the pay” as they are building great companies, but quickly return to those they cannot pay $23k for help via bailouts, we see the paralysis in this world. Yet, as Arik cuts 90% of staff and reduces by 80% the pay of the remaining, I become jealous of the #American model.
Nigeria will walk backwards without Arik and Air Peace. Unfortunately, #Nigeria is looking for its own bailout from IMF, China, etc and cannot pick their phone calls. I am indeed confused, and ask “What Next for Arik Air?” Nigeria needs #logistics and supply chain players – and something needs to happen, urgently. Arik and Air Peace should not fail!