Arik Air yesterday said it has completed the process for its private placement for investors scheduled for first quarter of next year.
It said the Initial Public Offer (IPO) for the listing of the airline at the Nigerian Stock Exchange (NSE) is billed for 2017.
Its Managing Director, Mr Chris Ndulue who spoke to reporters at a briefing to mark the ninth anniversary of the airline in Lagos also spoke of plans by the airline to expand its operations on regional routes to Abidjan in Cote d’ Ivoire and Dakar in Senegal this month.
He said in the first quarter of next year, the carrier will commence flight operations into Libreville in Gabon in addition to launching flights on the Lagos – Milan route in Rome.
He said the airline has flown over 17.304,741 passengers on both domestic, regional and intercontinental routes in the last nine years of its operation, adding that the carrier has struggled to keep its operations afloat in the air transport sector in spite of its many challenges.
According to him, the airline has launched a customised domestic travel insurance for passengers in partnership with two indigenous firms.