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AMCON takes over Aero Contractors

05 February 2016, 20:38

Lagos - The Asset Management Company of Nigeria (AMCON) has taken over the management and operations Aero Contractors airline and has appointed a manager for the carrier.

AMCON announced this on Friday in a press statement.

Aero is Nigeria’s oldest aviation company. It commenced business in 1959, initially providing services to oil and gas sector, before venturing into fix wing operations in the year 2000.

Currently, AMCON owns 60 per cent of the company with the remaining 40 per cent held by the Ibru family.

Also read: Aero Contractor's MD resigns

AMCON, in a statement signed by its management and issued by the media consultancy firm of Aero Contractors on Friday, said, “In furtherance of the statutory responsibility of acquiring eligible bank assets and 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.

"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" the statement noted. 

"AMCON would like to assure the regulatory authorities, the traveling public and key stakeholders that the airline will continue to operate on the solid foundation of safety and security with excellent customer service" it said.

"AMCON has also engaged a reputable accounting firm to undertake a forensic audit of the airline's accounts over the last 5 years"

- News 24


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