The board of Aero Contractors has been dissolved by the Asset Management Company of Nigeria, AMCON, and a manager has been appointed to control the running of the airline.
It was gathered that AMCON took over the company based on its statutory responsibility of acquiring Eligible Bank Assets and putting them to economic use in a profitable manner.
AMCON said in a statement on Friday that it made changes to the management of Aero in order “to protect the brand heritage of the airline, a very well cherished value.”
According to AMCON, which 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 re-positioning of the company.”
It further explained that the intervention “is in the public interest to sustain and improve the robust and premium quality service which Aero is known for in the country.”
With this, AMCON now owns 60% of the company, while the remaining 40% is held by the Ibru family.
AMCON Takes Over Aero Contractors https://t.co/Jyk2BTWiUN