Aero Contractors Airlines, the second largest carrier in world’s most populous Black Country will be closing shop on September 1.
The Airlines management stated that the business decision was a strategic business realignment to reposition the airline.
Aero said the decision was due to the harsh economic situation in the country, which also had forced other airlines out of Nigeria.
The airline said, “The impact of the external environment has been very harsh on our operational performance.
“Hence management have decided to suspend scheduled services operations indefinitely effective September 1, 2016.
“This suspension will remain pending when external opportunities, robust sustainable and viable plan is in place to resume scheduled services.
“The implication extends to all staffs directly and indirectly involved in providing services.
“They are to proceed on indefinite leave of absence during the period of non-services.
“We are aware of the impact this will have on our staff and our highly esteemed customers.
“We have also initiated moves to ensure that we return back to operations within the shortest possible time,” the airline said.
Aero witnessed epileptic operations and services to the external public in the past six months.
Recall that Aero ran into financial straits in 2011 till AMCON came to her rescue.
Following another bout of challenges, AMCON appointed Mr. Adeniyi Adegbomire (SAN) as Receiver Manager in February 6, 2016.
The move was to turn the airline around and ensure the airline remains afloat providing services to the general public.
But the airline noted that working environment inside and outside Aero had stalled any likely progress, particularly in the last 6 months.
The scenario worsened when the country’s forex policy weakened the naira to dollar exchange rates.
The situation made it almost impossible to achieve its operational targets.