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AMCON Takes Over Aero Contractors

Channels Television  
Updated February 5, 2016

Aero ContractorsThe Asset Management Company of Nigeria (AMCON) has dissolved the Board of Aero Contractors and appointed a Manager over the affairs of the airline.

The decision on Friday, according to AMCOM was in furtherance of the statutory responsibility of acquiring Eligible Bank Assets and putting them to economic use in a profitable manner.

AMCON is both the majority shareholder and creditor of Aero.

An Industry-based management team will be put in place to provide the highest level of professional competence which would ensure a quick repositioning of the company.

AMCON said its management decided to make changes in the Management of the airline to protect the brand heritage of the airline.

It also maintained that its intervention was in the public interest to sustain and improve the quality of service which Aero was delivering.

The company further assured regulatory authorities, the traveling public and key stakeholders that “the airline would continue to operate on the solid foundation of safety and security with excellent customer service”.

AMCON has also engaged a reputable accounting firm to undertake a forensic audit of the airline’s accounts over the last five years.

The decision of AMCON came barely a month the Airline disembarked passengers from a plane with a ladder in Bauchi State.

After the incident, the Nigerian Civil Aviation Authority (NCAA) imposed an “applicable sanction” on the airliner in line with Nigerian Civil Aviation Regulations (NCARs).