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AMCON Takes Over Aero Contractors, Appoints Manager

By Chika Goodluck-Ogazi
06 February 2016   |   3:35 am
ASSET Management Company of Nigeria (AMCON) yesterday stated that it has dissolved the Board of Aero Contractors and appointed a manager over the affairs of the airline. According to AMCON, it is in furtherance of the statutory responsibility of acquiring eligible bank assets and putting them to economic use in a profitable manner. It added…
PHOTO: saharareporters.com

PHOTO: saharareporters.com

ASSET Management Company of Nigeria (AMCON) yesterday stated that it has dissolved the Board of Aero Contractors and appointed a manager over the affairs of the airline.

According to AMCON, it is in furtherance of the statutory responsibility of acquiring eligible bank assets and putting them to economic use in a profitable manner.

It added that AMCON is both the majority shareholder and creditor of Aero.

AMCON said an industry based management team would be put in place to provide the highest level of professional competence which would ensure a quick repositioning of the company.

It said: “The management of AMCON has decided to make changes in the management of the airline to protect the brand heritage of the airline, a very well cherished value.”