Breaking News: Aero Contractors Shut Operations After 63 Years


By Ekene Olusoji*

After 63 years of operating flight services, the troubled Nigerian carrier, Aero Contractors has final shut down operations.
The close of operations of the airline is coming barely a decade after the Asset Management Corporation of Nigeria (AMCON) took over the running of the airline.
The airline despite the takeover by AMCON has been facing turbulent waters and its fortunes had not improved ever since.
Though, there are several allegations of financial misappropriation levelled against the former owners of the airline led by Mrs Cecilia Ibru and its debts profile, which run into billions of naira owed the Federal Airports Authority of Nigeria (FAAN), Nigerian Airspace Management Agency (NAMA), financial institutions and other vendors.
But, a statement by the media consultant to the airline said that the suspension of operations was due to the impact of the challenging operating environment on its daily operations.
The statement hinted that the suspension of operations would commence from Wednesday, July 20, 2022, but was silent on the resumption date.
Details later…


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