Sunnycliff:
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!

The national carrier has somehow been hijacked by Arik...

Its simply bad management, some people will say its Buhari, they are entitled to their opinion.

chidexSmokey:

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...

Okay ..hope their rates would be pocket friendly

PaulIdu:


Okay ..hope their rates would be pocket friendly

sure it will

Useless airline.. They are using the recession to cover the fact that the company's fortune had been going down since 2011 ish..

They should work on improving services rendered and maybe they will return back to profitability.

It is a better decision.

Instead of struggling to survive and affecting the maintenance and reliability of their Air Craft.

THIS GOES OUT TO ALL AIRLINES. IF IT IS DIFFICULT AND THERE ARE NO OPTIONS, QUIT OOOOOO!

MAKE UNA NO GO USE SUPER GLUE DEY GUM UNA PLANE COME CRASH PEOPLE.

WE BEG UNA!!!!

otokx:
Its simply bad management, some people will say its Buhari, they are entitled to their opinion.

Exactly! Aero can cancel or delay your flight without regard or proper communication.. So, i guess people started using airlines that are more reliable

At the early stage we told you Zombies your master"s capabilities but you guys were busy blaming GEJ and claiming that is a gradual thing. Here you are today with so many Zombies not having MB to apologize to GEJ. As I always told you this is just the beginning by the time he is finished with Nigeria economy you guys would be forced to confess your propaganda and conspiracy against the Jonathan Government.

Ibukun003:


The national carrier has somehow been hijacked by Arik...

Even Arik is bedeviled with debt and is now under the management of AMCON.

Ibukun003:
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...

Arik is even biting more than it can chew! They are also beginning to delay flights like broda Aero

Keneking:
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?

Eye don finally open..

Thank you Baba Bubu...

Jona can rest now..

Wey Lala sef...

complete1:
This man wan finish this country before he die sha!abeg if na you offend buhari go beg am naa

This got me ROTFL

enigma2007:


Exactly! Aero can cancel or delay your flight without regard or proper communication.. So, i guess people started using airlines that are more reliable

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.

The economy has collapsed.

henrydadon:


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

it's really now clear the reasons why you are poor

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

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

This is long over due, aero has sacked about 200 staffs since May, I was a victim then. So I think this info is coming late. Am getting over it though but I hope we will never witness a year like 2016 again in Nigeria. Not here to blame anyone but we always have better pass regime in Nigeria. Being with aero since 2014 until when this government came in and things start to go down.

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.

That is just sad.. I stopped using Aero since 2012 after they kept on canceling my flights or delaying unnecessarily. In fact, i will take my chances with Dana than Aero and i even heard that big companies like Shell stopped using them some years back.

I see a buharific (recessive) economy at work. God help us.

the fact is that most of us stating change now and blaming this government, we were the same people that actually trooped out in mass 2 vote for dis APC now that d change has resulted to grumbling we have no choice than to adapt God bless Nigeria.......

Ibukun003:
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...

I have said it before that the youth like me and you guys should stage a peaceful protest towards Buhari's Resignation....its not about a tribal thing rather a Naional thing because these guys no send us at all.
#BuhariMustGo#

Problem s everywhere

Everyone who voted for Buhari should voluntarily concede their right to vote.

It was clear that he would be a disaster, not sure why people are claiming to be surprised by what is happening.

Doghari incalculable Buffon

if you ask me. the ground is already fertile for a military coup. I don't know what they are still waiting for sure they will have the people backing.

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

I hope they've informed the president

izzou:
God help us in this country.

I hope we all survive this era

2019, where art thou?

Are you in my mind?

Your last statement is my pm on bbm

How low can we get that we will say Enough?

Over 4million became jobless in d last 14months, a dollar is #420, inflation keeps increasing, the govt keeps stunning us with inactions and excuses...

So tiring!

The wise men from the EAST saw these coming and stood their ground but what did dey get from other Nigerians .... Insults and threats even Wale Soyinka in his speech oversea insulted the Igbo race ......jast look at what is happening today in a space of one year few months in power.

Its quite unfortunate our dear President know little or nothing about national economy or how it is being run.. Cos the more he try to cover up with certain policies the more exposed his incompetence and cluelessness shows off. This has made it obvious to all that over 200 million Nigerians are really led by a blind man. One can be seeing yet blind... One can be rich yet poor( mental poverty).... One can be a leader yet timid.... Now if these can be established, what would be the fate of the subjects being led...

See how we are still talking about 2016 budget...stolen nat stolen....padded nat padded...who put the paddings and who didn't .....yet the year is coming to an end...companies folding up in their numbers, people loosing their jobs, crime rate increasing speedily , death rate so high I jast wondered what could've been the case if the EBOLA virus had surfaced in this present administration . I am yet to hear any goodnews from this administration.

I PRAY THIS DOES NAT END UP BECOMING THE CASE OF 2 STEPS FORWARD AND 5 STEPS BACKWARD.... They would say the other party for sixteen years looted Nigeria yet we are now being taken back 30 years from the present 16 years we have come in democracy. PAINFUL!!!

please who will give this man apple so that u know....

engrhorla:


Are you in my mind?

Your last statement is my pm on bbm

How low can we get that we will say Enough?

Over 4million became jobless in d last 14months, a dollar is #420, inflation keeps increasing, the govt keeps stunning us with inactions and excuses...

So tiring!

For those who still believe in this government, I don't know what other proof they need

Its so glaring that this government is clueless