Aero Contractors Airlines, Nigeria’s second largest commercial carrier, has confirmed an exclusive report of The PUNCH by announcing the suspension of its scheduled services beginning from Thursday September 1, 2016.

On Monday, August 22, 2016, The PUNCH exclusively reported that the airline was set to lay off some of its workers due to its worsening financial crisis.

The report also noted that the carrier was in talks with aviation unions on how to cut down on the number of workers in its employ, after sources from the sector revealed that Aero was contemplating a suspension of its scheduled flight services.

Confirming this in a statement signed by the carrier’s management on Wednesday, Aero stated that the suspension was part of the strategic business realignment to reposition the airline and return it to profitability.

It stated that this “business decision”, which is a result of the current economic situation in the country, had forced some other airlines to suspend operations or pull out of Nigeria.

The management of the carrier said the airline had faced grave challenges in the past six months which impacted its business and by extension the scheduled services operations.

These factors, according to Aero, are both internal and external environmental factors that have made it difficult for it to continue its scheduled services.

It stated that during the period in review, Aero witnessed epileptic operations and services to the external public that were caused by non-alignment of fundamental issue of the business, which in some cases had 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, 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 had 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.

But the airline noted that unfortunately, the operating environment within and outside the Aero had hindered any possible progress especially in the last six months when the naira depreciated against the dollar thus making it impossible for the airline to achieve its operational targets.

It started that with these realities coupled with protracted engagements with all relevant stakeholders, the management strenuously reviewed and assessed options and opportunities on ensuring viability, safety and sustainability of operations during the period with a lot of sacrifices.

The airline said, “The impact of the external environment has been very harsh on our operational performance, hence management decision to suspend scheduled services operations indefinitely effective September 1, 2016, pending when the external opportunities and a robust sustainable and viable plan is in place for Aero Contractors to recommence its scheduled services.

“The implication of the suspension of scheduled services operations extends to all staffs directly and indirectly involved in providing services as they are effectively to proceed on indefinite leave of absence during the period of non-services.

It added, “We are aware of the impact this will have on our staff and our highly esteemed customers, hence we have initiated moves to ensure that we are able to return back to operations within the shortest possible time, offering reliable, safe and secure operations, which the airline is known for.”



http://punchng.com/breaking-aero-confirms-punchs-report-suspends-scheduled-services-2/

just when I think we've seen it all, it keeps getting worse

after surviving this administration, the Apocalypse would be a child's play for Nigerians

In 1984 Hurricane Buhari came and swept the Nigerian economy to the stone age , in 2015 it came again to do same and is on course..Weldone Buhari

PaulIdu:
In 1984 Hurricane Buhari came and swept the Nigerian economy to the stone age , in 2015 it came again to do same and is on course..Weldone Buhari

splenzard:
just when I think we've seen it all, it keeps getting worse

after surviving this administration, the Apocalypse would be a child's play for Nigerians

Change!!!

hmmmmm. more reason why ENIVED AIR is gaining grounds.

Toyin Aimakhu own contractor #Alakada

Ok

What have we done to reach this new low

What useless government do we have that can not manage simple economics/economy

Useless APC government

Can we survive this next three years?

when are they going to serve buhari with impeachment notice
we cant just open our eyes and allow one certified kunu sipping gorilla burukutu sipping monkey and a gworo crushing demon bastard nonentity with an empty brain filled with fura d'nunu and roasted suya.


to ruin this country

Professor Buhari may shut down anything but can not shut down Nairaland Forum.

chidexSmokey:
hmmmmm. more reason why ENIVED AIR is gaining grounds.

Whats that

This is getting more serious...

Opportunity for Arik to increase their exorbitant fees...

All we can hope for is ALL MUST BE WELL...

I think its time the youths arose...

God help us in this country.

I hope we all survive this era

2019, where art thou?

na wa o. It is welllll my people

This is no good news to us as a Nation. I suspect this might happen after AMCON appointed a receiver manager over the company.
I had expected a complete restructuring of this airline probably with a debt equity swap when it was taken over by AMCON. This is another example of why government should not get involve in business. They should have pursued privatisation of this enterprise. 
Now staff will lose their jobs, other service providers will be out of business and the economy just sinks deeper.
Indeed a true sign of recession under PMB

We need an interim govt now to stabilise the economy and conduct fresh elections because we all made a big mistake in the last election

What!!!!!!!!!!!! Bubu

Some go say na Buhari........ Ok see them..... But you no vote... But na you complain pass,,...



please ladyf come make i see you b4 i pass go sokoto....

This man wan finish this country before he die sha!abeg if na you offend buhari go beg am naa

Which plane I go come de claim staff and enter for free now? And I go miss those their fine fine conductors too.

Can't the National Assembly impeach this motherfvcker? before he completely grounds this country??

More loss of jobs.

The airline have over 1,500 staffs and unfortunately, they will all be in the labour market soon. SMH

This would have been the best time to float our National Carrier but politics of bitterness, lootocracy and ofo ma ofojuo akpa has undermined this country!

PaulIdu:


Whats that

ENIVED AIR is the name of the airline set to take off very soon. it's gaining more ground because other airlines are leaving, thereby giving it room to set-in...

Hmmm,doghari's dividends of democracy.. Doghariously beautiful..

Any one that survives this Buharis regime will survive even in hell fire.

Na sweetness that ends bitterness
Nigeria is going somewhere