Thursday, 8 November 2012
House of Reps to investigate Aero Contractors
The House of Representatives yesterday mandated its committee on aviation to look into the operations of Aero Contractors airline over the frequent engine problems associated with the operations of the aviation company.
Acting on a motion brought forward by member, Robinson Uwak, the House agreed that it is necessary so as to prevent another air disaster reffering to the Dana Air crash which happened in June around Iju-Ishaga area of Lagos.
Uwak reportedly disclosed that it has been observed that some of the flights of the airline have been cancelled due to engine problems.
The Central Bank of Nigeria (CBN) had earlier in September announced that all credits to Aero Contractors should be halted due to its unpaid $200m loan facility.
The Aero Contractors statement partly read: “We can confirm that Aero’s debt has been taken over by AMCON. Currently Aero is going through a restructuring exercise under AMCON, pending final approval by AMCON board which is expected very soon,” Omoke Enyi, Aero Contractors’ chief financial officer, was quoted to have said.
The airline is allowed limited access to funds by the banks through AMCON for its working capital.
Aero is said to be wholly owned by the Ibru family, managed by Cecilia Ibru, former managing director of defunct Oceanic Bank.