Arik Air, Nigeria’s largest commercial airline, has formally been announced as the International Air Transport Association’s (IATA) newest member.
The IATA membership follows one year after Arik satisfied the requirements to be registered on the IATA Operational Safety Audit’s (IOSA) register.
Becoming a member of IATA affords an airline a host of interlining and code-share opportunities. Arik has already opened interline agreements with Hahn Air and Emirates and is currently speaking with a number of international carriers on code-share arrangements.
Arik has also joined up to the IATA Billing & Settlement Plan (BSP) for Nigeria and Central and West Africa. Despite reports to the contrary last week, IATA have confirmed that Arik was not suspended from the IATA BSP.
Dr Michael Arumemi-Ikhide, Group CEO & President Arik Air, commented “Joining IATA is a huge achievement for any airline so needless to say we are very proud of the endeavor it has taken and success we have achieved in reaching this landmark at only five years of age. Unfortunately we had to handle a lot of inaccurate reports and maligned press about Arik being suspended from the BSP or having been suspended from IATA last week, so we are happy to quash these negative reports now and inform everybody that we are in fact only formally announcing our membership today.
“The membership provides us the ability with which to link our markets, products and services to the rest of the world via partnerships and associations and we are keen to do so. Consolidating our position in West and Central Africa is the key strategy for the airline going forward and we are well placed to work with other carriers who similarly view the region as an opportunity to develop a cohesive and safe network.”
Fitch Solutions has reaffirmed its projection that Ghana’s economy will expand by 4.2% in 2025. This estimate slightly exceeds the International Monetary Fund’s forecast of 4% and the World Bank’s projection of 3.9%. The UK-based research firm attributes its outlook to historically high gold prices, which are expected to cushion the Ghanaian economy against a global slowdown triggered by rising tariffs. Higher gold prices are anticipated to strengthen government revenue, enhance foreign exchange earnings, and help sustain currency stability. The report also highlights that Ghana is relatively less vulnerable to increasing trade restrictions from the United States, given that its primary exports—gold and crude oil—are not directly affected by the tariffs introduced by President Trump’s administration. Moreover, the US constitutes only about 4% to 5% of Ghana’s total exports. In contrast, Ghana’s trade relations are more heavily oriented toward China and European countries, particul...
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