The National Union of Air Transport Employees (NUATE) has called on the Asset Management Corporation of Nigeria (AMCON) to divest its shares in Aerocontractors through the stock market to allow for professional and market-driven management of the airline to ensure its continued survival.
In a circular issued by the Union and signed by the President, Comrade Nnabue Ben Konye, it was alleged that AMCON had declined to provide necessary funding for the airline which has hampered its operational stability and growth.
NUATE further stated that AMCON lacks technical expertise in aviation, yet continues to interfere in the day-to-day running of the company with inexperienced personnel thereby causing significant setbacks.
The Union argued further that the airline’s growth is being hampered by the request that the carrier remit its saved funds to AMCON’s coffers rather than allowing the company to reinvest in its expansion and turnaround initiatives.
It would be recalled that Aerocontractors grew organically from one aircraft to a fleet of about six aircraft through prudent management; a feat which appears to be under threat going by the Union’s allegations.
