Saturday, 1 December 2012

Aero contractor M.D, Captain Akin George sacked?

There were conflicting reports on Friday night with sources claiming that the Managing Director of Aero Contractors, Nigeria’s second biggest airline, Captain Akin George, has been sacked.
But the airline debunked the rumour as unfounded.
Sources said Aero boss was sacked today and replaced by a nominee of the Assets Management Corporation of Nigeria, AMCON.
Since AMCON took over the airline few months ago over bad debts, a new management was expected.
The news of the sack if confirmed would further expose the crisis-ridden aviation industry in Africa’s most populous nation as weak and unstable.
The 51 year old Aero Contractors airline is one of the four major commercial airlines in Nigeria and the oldest among them.
Two other, Dana Air and Air Nigeria are not in the skies.
While Air Nigeria has suspended operations for a year on account of bankruptcy, Dana Air has not resumed operation since the 3 June plane crash.
The Central Bank of Nigeria had announced that all credits to Aero should be halted because of its $200 million loan.
“We can confirm that Aero’s debt has been taken over by AMCON. Currently Aero is going through a restructuring exercise under AMCON, pending final approval by AMCON board which is expected very soon,” said Mr. Omoke Enyi, Aero Contractors Chief Financial Officer.

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