Nigerian airline Arik Air is understood to have ordered additional Boeing planes with a view to double its fleet over the next 10 years. The airline is adding a number of international flight routes to its network to offset shrinking domestic demand and bring in more foreign currency.
According to a recent Reuters news report, the airline is understood to be engaging potential new investors to help fund this expansion, with a private share placement scheduled for 2017. A potential IPO is also being considered.
According to the airline’s Managing Director, the airline is seeking to grow its fleet size to 52 Boeings by 2025. The increase fleet size will enable the airline to expand their footprint in Europe, the Middle East, Asia and Latin America.
The airline is planning to commence daily flight services to New York within the next six months, and is also planning to launch flights from Nigeria to Rome and Paris within 18 to 24 months. The airline’s routes presently include flights to London, Johannesburg, Western as well as Central Africa.
For more information, visit arikair.com
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