Simon Ateba/Aviation correspondent

Arik Air said on Thursday that it has signed a lease agreement with Emirate Touch Aviation Services Limited.

The airline said the agreement is for its two Boeing 737-300 aircraft.

The Aircraft, Crew, Maintenance and Insurance (ACMI) agreement was signed in Lagos on Wednesday by the Chairman of Arik Air, Sir Joseph Arumemi-Ikhide and Director General of 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.

Speaking at the signing ceremony, Arik Air Chairman, 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.

“As a world class airline, our mission is to build alliances and partnerships and thereby increase capacity in the industry,” said Arumemi-Ikhide.