This is contained in a statement from the management of the airline in which it stated that the development was part of the strategic business realignment to reposition the airline and return it to the part of profitability.
This business decision, which is a result of the current economic situation in the country, has forced some other airlines to suspend operation or out rightly pull out of Nigeria.
In the case of Aero, the airline said the airline had faced grave challenges in the past six months which impacted its business and by extension the scheduled services operations.
According to the management, these factors are both internal and external environmental factors that have made it difficult for the foremost airline to continue its scheduled services.
It said during the period in review, Aero, which was hitherto revered for its safety, timeliness among other virtues witnessed epileptic operations and services to the external public that are caused by non-alignment of fundamental issue of the business, which in some cases have been frustrating and embarrassing to all parties including staff, customers and indeed all stakeholders.
As part of its resolve to ensure the airline survived unlike most other carriers that experienced short life span in the country, the Asset Management Corporation of Nigeria (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 has provided support for the airline to meet working capital requirements and fleet expansion.
These were to ensure the airline remains a going concern providing services to various clients and the general public.
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