AMCON appoints new manager for Aero Contractors, dissolves Mgt Board

The debt management company made this known today and stated that the reason behind it is to protect the brand heritage of the airline maintaining that its intervention is in the public interest to sustain and improve the robust and premium quality service.

Months of internal wrangling, union accusations of fraud and other problems may be put on the shelf as the Asset Management Company of Nigeria (AMCON) on Friday dissolved the Board of Aero Contractors and appointed a Manager over the affairs of the airline.

The debt management company made this known today and stated that the reason behind it is to protect the brand heritage of the airline maintaining that its intervention is in the public interest to sustain and improve the robust and premium quality service.

This may be as a result of the intervention of the Senate in long standing union matters and many accusations of fraud within the company perpetuated, according to the unions, by the Board and management of the airlines and the debt managers’ officials.

This led the newly constituted board of AMCON to revisit the issues and employ a reputable accounting firm to undertake a forensic audit of the airline’s accounts.

A statement from AMCON in part read,” 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. AMCON 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 repositioning of the company.

“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.

“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. AMCON has also engaged a reputable accounting firm to undertake a forensic audit of the airline’s accounts over the last 5 years.”

Aero for what seems to be a long time has been operating without a concrete management as it was always changing acting managing directors on a fortnight basis.

As at the last count this medium has counted two acting managing directors for the airline in the last forty-three days.

First after the infamous ladder disemabarkment fiasco by the airline, it called a press conference on December the 21st to explain its side of the story.

The airline introduced to the media, an Accountable Manager and Acting Managing Director, Captain Russell Lee who spoke on behalf of the airline explaining their role and part culpability in the Boeing 737-500 flight with registration number 5N-BLG was chartered to take a groom of a wedding from Abuja to Bauchi.

January 18, 2016 while reacting to allegations of suspension of union members, Messrs Emakpor Ayo-Ife and Adeniyi Adenuga the airline management in a statement signed by another Ag. Managing Director/CEO, Iyene Amapakabo, the report to these institutions is to look into the matter with the ultimate goal of checking the unwholesome practice of the unions because of its serious safety implications on our operations as an airline.