The National Union of Air Transport Employees has accused the Asset Management Corporation of Nigeria of mismanaging Aero Contractors Company Limited, raising concerns over the airline’s survival and operational stability.
The union, in a statement signed by its National President, Nnabue Konye, alleged that AMCON’s actions have stifled the airline’s growth and undermined years of gradual recovery. The union warned that continued interference without adequate industry expertise could reverse the modest gains recorded by the carrier.
At the heart of the dispute is what the union described as AMCON’s refusal to provide critical operational funding, a development it claimed has now left the airline struggling to maintain stability in an already “fragile industry.”
“AMCON has declined to provide necessary funding for Aero Contractors Company Limited, hampering operational stability and growth,” Konye said.
Beyond funding concerns, the union criticised AMCON’s continued involvement in the airline’s management, arguing that the corporation lacks the technical know-how required in the aviation sector.
“AMCON lacks technical expertise in aviation, yet continues to interfere in the day-to-day running of the company with inexperienced personnel. This has caused significant setbacks in a time-sensitive industry,” the statement read.
The aggrieved workers say the situation has created anxiety within the airline, with fears that decisions taken without industry insight could threaten jobs and safety standards.
Some staff, who spoke on condition of anonymity, expressed frustration over what they described as “uncertain leadership direction” and dwindling confidence in the airline’s future.
NUATE also raised concerns over the redeployment of personnel from Arik Air to Aero Contractors, describing the move as counterproductive. The union argued that the challenges previously experienced at Arik Air under AMCON’s management should serve as a cautionary tale.
Konye stated, “AMCON, under whose management Arik Air deteriorated, is now redeploying Arik Air staff to Aero Contractors, despite the latter growing organically from one aircraft to nearly six through prudent management.”
Another contentious issue is the alleged directive for Aero Contractors to remit its internally generated funds to AMCON, a move the union said would cripple the airline’s ability to reinvest and expand.
As part of its demands, NUATE called on the Federal Government and relevant authorities to compel AMCON to divest its shares in the airline through the stock market, arguing that this would pave the way for professional and market-driven management. The union maintained that such a move is critical to ensuring long-term sustainability.
The union added, “AMCON has requested that Aero Contractors remit its saved funds to its coffers, rather than allowing the company to reinvest in expansion and turnaround initiatives.
“We respectfully request that AMCON divest its shares in Aero Contractors through the stock market to allow for professional and market-driven management.”
The union further appealed for tax waivers and financial relief for the airline, stressing that such support is necessary to stabilise operations and protect jobs. “We respectfully request that the appropriate authorities grant Aero Contractors Company waivers and relief on tax liabilities to support its recovery and growth,” the statement noted.
Efforts to speak with AMCON proved abortive as the spokesperson of the corporation, Jude Nwauzor, neither picked up his call nor responded to messages of enquiry sent to him.
