Nigeria’s oldest carrier, Aero Contractors has announced starting fares of N80,000 to any of its destinations, saying that it decided to bring down its fares to celebrate Christmas with its customs in appreciation of their loyalty over the years.
With starting fare at N80, 000, Aero Contractors is offering the lowest cost of ticket in the domestic air travel market, especially at this period of Christmas season, when fares have averaged N120, 000 for one-hour domestic flight.
The airline has also indicated that it is now ready for investors to invest in the company as it has for the first time in eight years recorded a profit of 14 per cent and reduced its liability by about 33 per cent.
This was made known by the Managing Director and Chief Executive Officer of Aero Contractors, Captain Ado Sanusi, who was responsible for resuscitating the airline when it became moribund in 2017; at a point its operation was about -69% and the Nigeria Civil Aviation Authority (NCAA) was about to suspend its Air Operator Corticate (AOC).
Aero faced financial challenges for some years, which led to its takeover by Asset Management Corporation of Nigeria (AMCON) that currently owns 60 per cent stake in the company.
Sanusi said the modest profit of about 14 percent profit recorded by the airline, is a testimony of the hard work the management and other staff have put in the company for the positive turnaround being recorded currently.
“We believe the next aspect of our recovery will be to invite investors to come and invest into the company. We have also reduced our liability by about 33 percent. So, we are preparing the company for investors to come in and invest.
“This is a great success story for us. A company that was closed down before I came, I think in 2021, I believe, for about eight months. And now we have turned it around, and it is in the trajectory of recovery. We sincerely believe that with what we have said, we will get investors to invest and put in more aircraft,” Sanusi said.
The Managing Director said that as at today the company has paid off the National Union of Air Transport Employees (NUATE) and the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and is about paying the National Association of Aircraft Pilots and Engineers (NAAPE) all the arrears owed them.
Sanusi also said the company has almost met all the outstanding salaries for staff, adding that it has reduced its liabilities to 33 percent.
Aero Contractors has also strengthened its reputation as a regional aviation hub by expanding its Maintenance, Repair, and Overhaul (MRO) services.
Sanusi, who confirmed this, disclosed that with new approvals from Morocco, Mongolia, Senegal, and Ghana, the airline’s facility now supports aircraft types such as 737s and the A319 family.
In its progress in aircraft maintenance, Sanusi said Aero has made advancements in top-case engine repairs and modular changes, which are a prelude to full engineoverhaul capabilities for CFM56 engines.
Speaking on its aircraft fleet size, he said the airline currently operates three aircraft and does not intend to increase fleet size soon but will solidify on the routes which it operates in to give passengers affordable fares.
“We do not intend to increase our destination during the Christmas season. We intend to make sure that we are reliable and we have pocket-friendly prices. We understand we are not operating in isolation.
“And we do understand that there are a lot of airlines that have brought in capacity, which is good for the market. We intend to maintain our fleet size of about three. What I project for Aero contractors is a 10-fleet size,” he said.
Chinedu Eze
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