Labour Accuses AMCON of Starving Aero, Arik of Funds

Labour unions in the aviation industry have alleged that the Asset Management Company of Nigeria (AMCON) has not invested the funds needed to revamp Aero Contractors and Arik Air, which the corporation took over their management when they were going under.

AMCON said it took over the airlines to resuscitate them and recover the huge debts the companies owed banks and other creditors, which the government agency absorbed in other to save the domestic carriers.

President of Air Transport Senior Staff Services of Nigeria (ATSSSAN), Ahmadu Illitrus disclosed this yesterday at the Murtala Muhammed Airport (MMA), Lagos during a rally organised for workers in the sector to mark the Workers Day.

However, Illitrus lamented that since the takeover of Aero, the current management in Aero led by AMCON intentionally starved the airline of funds.

But spokesman of AMCON, Jude Nwuzor, reacted to the allegation and said the corporation has injected over N50 billion to the two airlines, saying that by the time it took over Arik most of the aircraft in the fleet of the airline were grounded, while others were on maintenance checks.

He said AMCON had to rehabilitate the aircraft and put them into operations, adding that AMCON has been injecting funds into Aero Contractors and disclosed that the money needed to develop and upgrade the maintenance facility of the airline was provided by the government agency.