Nigerian carrier, Aero Contractors, announced on the 1st of September that it would be suspending all scheduled operations. The airline reportedly cited the depreciation of the Nigerian Naira, coupled with the shortage of jet fuel, as the primary contributing factors leading to its suspension. Additionally, the airline stated that the suspension was a part of a strategic business initiative to eventually return the airline to profitability. Despite this, no date regarding the resumption of services has been announced.
In early 2016, the Asset Management Company of Nigeria (AMCON) took control of the Aero Contractors’ operations and commissioned a number of internal financial audits. The airline subsequently underwent extensive internal restructuring which resulted in a complete overhaul of the airline’s executive board. In July 2016, services to Accra (Ghana) were suspended after the airline was unable to obtain adequate foreign currency to fund the airport parking and support fees.
Aero Contractors was founded in 1959 and is based out of Nigeria’s capital, Lagos. Throughout its operational history, the airline has been exposed to a number of ownership changes. The airline had operated a number of both scheduled and charter operations, utilising a fleet of Boeing 737 and Bombardier Dash 8 aircraft. In late August 2016, fellow Nigerian operator, First Nation Airways, also announced the suspension of flights, placing blame on the ailing Nigerian economic situation in addition to various maintenance related issues which resulted in a number of aircraft being withdrawn from service. Despite this temporary suspension, flights resumed in mid September after the airline was able to return a number of its aircraft to operational service.