Aero Contractors Airline shuts down operations in Nigeria

Nigeria’s second largest commercial carrier, Aero Contractors Airlines has announced that it is shutting down services beginning from Thursday (tomorrow) September 1, 2016, over Nigeria’s current economic situation.

aero

The airline management said this in a statement signed on Wednesday.

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Aero stated that the suspension was part of the strategic business realignment to reposition the airline and return it to profitability.

It stated that this “business decision”, which is a result of the current economic situation in the country, had forced some other airlines to suspend operations or pull out of Nigeria.

The management of the carrier said the airline had faced grave challenges in the past six months which impacted its business and by extension the scheduled services operations.

These factors, according to Aero, are both internal and external environmental factors that have made it difficult for it to continue its scheduled services.

As part of its resolve to ensure the airline survived unlike most other carriers that experienced short life span in the country, AMCON had appointed Mr. Adeniyi Adegbomire SAN as Receiver Manager in February 6, 2016, with the aim of turning the airline around.

Since AMCON’s intervention in Aero Contractors in 2011, it had provided support for the airline to meet working capital requirements and fleet expansion.

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5 Comments

  1. Buhari did you single handedly ruin Nigeria, it was ruined before he came to power. Let’s stop pointing fingers. It’s not the way to go in life. The economy in Nigeria was dependent on oil for a long time and it’s still dependent on it. That’s why the economy is horrible for y’all!
    It is well

  2. Oh, when people were blaming Jonathan for everything, where were you? Besides Buhari has been in power before, so he has definitely contributed to the state of the nation.

  3. When u voted a primary school certificate man to lead u at this jet age, what do you expect. Olodo! More problems to come. Nigerians, God save us!

  4. So true, Nigeria has huge challenges no doubt..but exarcebated by wrong government policy or lack of policy in so many cases..good intentions do not a good leader make..Buhari has good intentions but he is ill-equipped for governance..a dictator doesn’t morph into a Democrat..nor does he have even the most rudimentary understanding of modern day economics; fiscal &monetary policies, use of free-market as the most efficient means of resource allocation, nor does he show Leadership in engaging all parts of the country and all stakeholders positively..he seems to be prosecuting a so-called Northern agenda and is becoming more and more alienated from the masses by the day….continuing his style of command and control economics will only worsen the situation. Fasten your seat-belts, it’s gonna be a bumpy ride…

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