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Aero Contractors May Sack Workers As Financial Mess Worsens

Aero Contractors

There are strong indications that one of the biggest domestic airlines in Nigeria, Aero Contractors, may push some of its employees into the labour market.

This is because the company is battling with financial crisis, which is worsening by the day.

Due to the problem, Aero Contractors is said to be having discussions with aviation unions on how to cut down on the number of workers in its employ.

Last week, the airline reportedly had a meeting with officials of the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), where the issues on ground were tabled before the union.

Similar meetings will hold this week with other key unions in the sector, Business Post learnt.

It was gathered that because of the foreign exchange problem in the country, the airline has not been able to bring in some of its airplanes that were sent out for routine maintenance.

In fact, some of its stations have been shut down because of the financial mess the company is passing through.

Aero Contractors is also said to be facing tiff operational challenges, despite being taken over by the Asset Management Company of Nigeria (AMCON) in February 2016.

There are also fears that the airline may eventually fold up, though its management has allayed such speculations.

Apart from the forex issue facing the company, it is believed that the airline is battling with double taxation by government agencies in the sector and scarcity of aviation fuel, popularly known as Jet A1, which other carriers have also complained of.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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