Arik, Emirates Sign Lease Agreement

Arik Air, a national carrier, and Emirate Touch Aviation Services Limited have signed a lease agreement for the airlines’ two Boeing 737-300 aircraft.

The Aircraft, Crew, Maintenance and Insurance (ACMI) agreement was signed in Lagos recently by the Chairman of Arik Air, Sir Joseph Arumemi-Ikhide and Director-General, Emirate Touch Aviation Services, Prince Isa Bayero.

Under the terms of the agreement, Arik Air is leasing its two B737-300 aircraft (5N-MJA and 5N-MJB) to Emirate Aviation Services for cargo operations.

Sir Arumemi-Ikhide said the event was significant because it marked the first time the airline was going into such an agreement with a Nigerian company. “We are pleased with this lease agreement. As a world class airline, our mission is to build alliances and partnerships and increase capacity in the industry.”

Prince Bayero said he was elated to partner with the leading indigenous carrier in Nigeria and hoped this would help increase capacity in the industry as envisioned by the founders of Arik Air.