Captain Ado Sanusi, Managing Director of Aero Contractors has resigned his appointment from the Assets Management Corporation of Nigeria [AMCON] managed airline.
According to Sanusi, his resignation took effect on December 31, 2020.
“There is a time for everything. There is a time when I joined Aero and there is a time I am leaving.
“I thank God for the contribution I made in Aero and I am happy I finished successfully,” he said.
AMCON took over the management of Aero Contractors after it dissolved the board of the company in February 2016, after the airline failed to pay its debt inherited by the ‘bad bank.’
Consequently, AMCON appointed a manager to run the affairs of the company in an interim capacity.
It said the decision to take over the management of the company was in furtherance of its responsibility of acquiring eligible bank assets and putting them to economic use in a profitable manner.
AMCON is both the majority shareholder and creditor of Aero Contractors.
At the point of take-over, the airline was owing AMCON about N14 billion.