₦airaland Forum

otokx:
The management was collecting huge salaries and allowances, the staff unions refused to downsize, the foreign exchange wahala caught up with them then everything went up in flames.

Meanwhile line staff are being owed July and August salaries, they will proceed on leave with empty stomach.

People will ignore this post and start blaming buhari

airlines that came after aero are still surviving and aero have been in the game long....this may be down to mismanagement

Please read full story before shouting buhari ....

After over five years of been in murky waters due to the diversion of funds and inflation of aircraft price by its the management, Aero Contractors has finally announced its plans to suspended flight operations from tomorrow, Thursday, September 1, 2016.

The airline, which was taken over by the Asset Management Company of Nigeria (AMCON) Saharareporters gathered took the decisive decision when its current management led by Capt. Fola Akinkuotu as the Chief Executive Officer (CEO), could not rescue the airline from going further down.

A source close to the airline confided in our correspondent today that AMCON debt in the troubled airline has grown to N20 billion from the initial N11 billion in 2011 when AMCOM took it over.
The source said that with the initial N14 billion, AMCON had 60 per cent shares in the airline and with the current N20billion, the source said AMCON had completely taken over the running of the airline and decided to liquidate it.

Besides, the source noted that the Federal Government through AMCON had engaged the services of a reputable accounting firm to undertake a forensic audit of the airline's accounts in the past five years and eventually liquidate it.

The airline has over 1,000 staff including engineers and pilots. The airline before 2011 crisis and AMCON take over, had about 18 aircraft and multiple helicopters, but as at July this year, the fleet has depleted to only two aircraft.

The source added that part of the documents used for audit of the airline and its eventual collapse were submitted to AMCON by two leading industry unions; the National Union of Air Transport Employees (NUATE) and the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) who had exposed some shady deals in the airline in recent times.


The documents submitted to the government by the unions alleged that the immediate past management and board members of the airline who are predominatly members of the Ibru family contributed in no small measures to the deplorable condition of the airline.


The unions purported further that Oceanic Capital, a consultant to the airline acquired seven planes in which only six were delivered and leased them back to Aero through Oceanic Leasing Company of at $12m each.

But, the unions said that rather than the $12m claim by the Oceanic Capital, the website of the aircraft firm, Arizona where that the aircraft were purchased for $4m each.

The documents used against the management by the government added that the past administration paid $250,000 twice in favour of one "Bayo" for negotiation and finalisation with AMCON, which also reflected on its invoices as a general vendor for consultancy fees.


On the suspension of flight operations, Akinkuotu said the development was part of the strategic business realignment to reposition the airline and return it to the part of profitability.

Akinkuotu in a statement by the airline’s media consultant, Mr. Simon Tumba said the business decision, which was a result of the current economic situation in the country, has forced some other airlines to suspend operation or outrightly pull out of Nigeria.

In the case of Aero, Akinkuotu said the airline had faced grave challenges in the past six months which impacted its business and by extension scheduled flight operations. These factors, according to him are both internal and external environmental factors that have made it difficult for the leading airline to continue its scheduled services.


He said during the period under review, Aero, which was hitherto revered for its safety, timeliness among other virtues witnessed epileptic operations and services to public that are caused by non-alignment of fundamental issue of the business, which in some cases have 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 on February 6, 2016, with the aim of turning the airline around.

Since AMCON's intervention in Aero Contractors in 2011, it has provided support for the airline to meet working capital requirements and fleet expansion. These were to ensure that the airline remains a going concern providing services to various clients and the general public.

Unfortunately, the operating environment within and outside the airline have 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.

With these realities coupled with protracted engagements with all relevant stakeholders, the Management of Aero has strenuously reviewed and assessed options and opportunities on ensuring viability, safety, and sustainability of operations during the period with a lot of sacrifices.

“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 effective to proceed on an indefinite leave of absence during the period of non-services,” the Chief Executive Officer stated.

He added that “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 can return to operations within the shortest possible time, offering reliable, safe and secure operations, which the airline is known for.”

Source: http://saharareporters.com/2016/08/31/troubled-nigerian-airline-aero-contractors-suspends-flight-operations-accuses-former

Quads in this economy

the way we celebrate mediocrity and exalt politicians in this country.......in saner climes this would be a stupid topic

Chinom:
Jokes apart, Obiano should remove his fvcking picture from that bag of rice. It's a great feat if it actually sells for N9k.

Agree 100%, its only in 3rd world countries you'll see things like this...the man even wears clothes with his picture on it ... this is a great achievement nonetheless, he strikes me as an industrialist which is what we need in this country .... other states can take a cue and start producing their own rice, this will increase supply and drive down the price .

i saw that snake video on whatsapp, pretty nasty stuff... if it was moved to a vault , its obvious he watched and kept them

why is his picture on it...

Shes ugly......... im not a fan of makeup but she clearly needs it

Daminaj1:
Perhaps they are trying to kick out runs girl who flock such places looking for customers?

This is the simple truth.....runs girls go there to look for men.... they also bounce unescorted ladies from strip clubs in Lagos

.

HungerBAD:
Madam please forgive him.

What even bothers me more is, a 7 yrs old that has an urge to kill something. It is not normal for 7 yr Olds to around killing animals.

The Psychiatrics will tell you,that is a classy sign of somebody that might grow up to be a killer.

We used to do this all the time, we would kill chickens, chicks, drown lizards or drop them on ants nests, burn butterflies and moths with matches irons and light bulbs , feed insects to spiders , keep two insects in a jar and watch them fight to death, etc...

I think i was younger than 7 doing all this ...its not a sign of anything... i am a normal functioning tax paying member of society. Its curiosity and boredom with a little bit of ignorance.

Eye service...hes doing it for the media and publicity .. he has enough money to do more

Does anyone know any pokestops or gyms in VI,Lekki or Ajah? , only pokestop i know is city of david

How is that human form https://www.kanyetothe.com/forum/Smileys/default/vzkq30L.png

[img]http://vignette4.wikia.nocookie.net/glee/images/4/4b/MyBrainHurts.gif/revision/latest?cb=20130614191515[/img]

Not against nudity in movies , but gravity has really dealt with her tits

Allow me to ADD one BS= Bullsh*t

Example : All your acronyms are BS

PDP have had their chance , 16 years with little to show , APC is currently messing up their own chance , come 2019, we need something new not the same old PDP\APC thieves

Fayoses state must be perfect with no issues for him to be talking all the time like this ..... please face your state....

kenonze:
#Bringbackourcorruption

https://www.kanyetothe.com/forum/Smileys/default/tqHARym.pnghttps://www.kanyetothe.com/forum/Smileys/default/tqHARym.pnghttps://www.kanyetothe.com/forum/Smileys/default/tqHARym.png

Bring back our corruption? people like you deserve the all the leaders you've had and the leader you currently have

I can only pray a new political party rises before 2019 ... this APC govt is looking to be as incompetent as the previous PDP one

donshady:
None is advisable. but I'll still prefer fornication to masturbation because

1. Masturbation makes you weak, it drains protein and calcium content in the body

2. Masturbation creates nervousness and neurological problems

3. Masturbation is one of the main cause for erectile dysfunction.

4. Masturbation addicts you even if you taste it for one time. Controlling it is a very big menace.

5. Masturbation creates drowsiness; you will be sleeping most of the time after ejaculation of your sperm. You will experience a damn tired.

6. Masturbation causes stress and strain in your mind and soul.

7. Masturbation also affects us psychologically; it creates depression after ejaculation and makes one feeling bad on his own.

8. Getting red hot while masturbating will give a bad name in that environment and it is an indecent activity.

9. Masturbation cannot be done simply, it needs to see, touch, indulge or, at last to think of a sexual practice/ sex organ of the opposite sex. This is more harmful that the image in your memory that you see could not be erased easily. This will lead you to a noxious problem that you cannot see any girl/ lady/ women without a single thought i.e., sex.

10. Masturbation creates an urge to do indefinitely; it doesn’t see the place, people and culture. It makes you digging worse sexual problems if chance knocks the door.

11. Masturbation leads you to illegal contacts because the urge increases day by day and finally will lead to the search of a source for sexual pleasure.

12. Masturbation is the main reason for speedy sperm release during sexual intercourse. It will create dissatisfaction to you and to your wife.

13. Over masturbation reduces your sperm count. Couples who desire to get pregnant should not masturbate.

14. SThe seminal fluid that gets released on masturbation contains proteins that are needed for many metabolic activities and cell formations. Proteins are the building blocks of our body; ejaculation often will create you to be lean and distracts your metabolism of muscle building.

15. Ethically masturbation is wrong; you think of X/Y and do sex of your own. This hinders your values and respect for others. You may be are good in all other regards but will end up in a great problem if not concerned to stop this habit.

16. Masturbation wastes your time and makes you useless.

17. The pleasure of masturbation never lasts for a long time.

18. Masturbation creates more problems as you lose your memory and thought-provoking ability.

19. Masturbation is not the end of your desire; you may be fooled by your own practice. It will never give you a solution or a satisfaction but seems that it gives.

20. It is not needed in any way to your sexual life that it has to be practiced without fail.

21. Guys who masturbate will lose interest in sex with their wife very soon. They can’t feel pleasurable for a long time.

22. Masturbation induces homosexuals in schools, colleges and hostels. Many times the latter creates sexually transmitted diseases like VD, syphilis, AIDS etc.,

Brother a simple google search will show you all you typed here is wrong, stop spreading ignorance, this post has 106 likes which means there are 106 ignorant people, some you created with this post. https://www.kanyetothe.com/forum/Smileys/default/tqHARym.png

That being said the downside to it is that its a bad habit, and bad habits will most definitely get you in trouble.

Anybody who actually believes this nonsense deserves to be lobotomized

LOL Ben Bruce should snap his own fridge , let us see , people that are suffering will be hailing and supporting ben bruce , like he gives a damn about any of you , enjoy living in darkness while he enjoys and steals your money , stay pleb

she should be arrested for wearing that top