Nigeria's largest airline Arik Air to double fleet by buying mostly Boeing planes

Nigeria’s largest airline Arik air to double fleet by buying mostly Boeing planes

Nigeria‘s largest airline Arik Air plans to nearly double its fleet to 52 planes within 10 years and has already ordered some of them from Boeing, a source at the company said on Monday.

Most of the carrier’s existing fleet are Boeing planes and the source, who did not wish to be identified, said the airline would buy most of the new planes from the U.S. plane maker. The source did not say how many had already been ordered or the value of the purchases.

Privately owned Arik Air needs more planes as it aims to add international routes and increase services, including daily flights to New York, to offset a slowdown at home and bring in more hard currency.

It is also seeking new investors to help it grow and has said it wants to raise up to $1 billion through a private share placement next year and a possible initial public offering (IPO).

Read more: Nigeria’s Arik Air to buy mostly Boeing planes to double its fleet

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