Union commends AMCON for taking over Aero Contractors

The National Union of Air Transport Employees (NUARTE) on Friday commended the management of Asset Management Company of Nigeria (AMCON) for dissolving the board of Aero Contractors Airline.

NUATE’s General Secretary, Olayinka Abioye, gave the commendation on Friday while speaking with the News Agency of Nigeria in Lagos.

AMCON, which owns 60 per cent of the airline’s shares, had dissolved the board and appointed a manager to oversee the repositioning of the company.

Abioye said: “I have also been informed that the board has been dissolved.

“I believe it is a good starting point in repositioning Aero Contractors.

“It also goes to show that we have listening leaders in some sectors of the economy.

“When we went to the Senate Committee on Aviation, what was paramount in the mind of the management of AMCON was that their investment in Aero Contractors must not be frittered away by anybody.”

According to Abioye, the decision to dissolve the board was a fallout of allegations of mismanagement made against the former board members by the unions in the industry.

He said: “So, if the unions alleged that the company is being mismanaged, we expect that a responsive and responsible body of government, which AMCON represents, will rise to the occasion.

“In this instance, they have risen to the occasion and we want to commend the AMCON management for taking this timely decision.”

Abioye said the dissolution of the board would serve as a clear warning that it was no longer business as usual.

AMCON said it took over Aero in the public interest to sustain and improve the “robust and premium quality service of the airline”.

It announced the engagement of a reputable accounting firm to undertake a forensic audit of the airline’s accounts over the last five years.

A statement by AMCON released by the Media Consultants to Aero Contractors, SY&T Communications, on Friday said “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.

“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 travelling 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 five years.”