AMCON takes over management of Aero Contractors

In furtherance of its statutory responsibility of acquiring Eligible Bank Assetsand putting them to economic use in a profitable manner, the...

In furtherance of its statutory responsibility of acquiring Eligible Bank Assetsand putting them to economic use in a profitable manner, the Asset Management Company of Nigeria, AMCON, has dissolved the board of Aero Contractors and appointed a manager over the affairs of the airline.

Disclosing this in a statement issued on Friday, the majority shareholder andcreditor of Aero stated that “An industry-based management team will be putin place to provide the highest level of professional competence which would ensure a quick re-positioning of the company.”

The statement explained that, “The management of AMCON decided to make changes in the management of the airline to protect the brand heritage of the airline, a very well cherished value.

“AMCON also maintains that its intervention is in the public interest to sustain and improve the robust and premium quality service which Aero is known for in the country.”

While assuring regulatory authorities, customers and other stakeholders thatthe airline would continue to “operate on the solid foundation of safety and security with excellent customer service,” AMCON promised to engaged a reputable accounting firm to undertake a forensic audit of the airline’s accounts since the last five years.

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