Aero Contractors (Nigeria)

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Aero Contractors
138px
IATA ICAO Callsign
AJ NIG AEROLINE
Founded 1959
Hubs Murtala Muhammed Airport
Airport lounge Heritage Lounge
Fleet size 17
Destinations 13
Company slogan the reliable way to fly...
Parent company Asset Management Corporation of Nigeria (60%)
Headquarters Murtala Muhammed Airport
Ikeja, Lagos State, Nigeria
Key people Hugh Fraser (CEO)
Website www.flyaero.com

Aero Contractors Company of Nigeria Limited, known as Aero Contractors or simply Aero, is a state-controlled Nigerian aviation company based at Murtala Muhammed International Airport in Ikeja, Lagos State, Nigeria.[1][2] It operates helicopter services and fixed wing domestic and international scheduled passenger services, air charter and third party aircraft operations, largely in support of Nigeria's extensive oil and gas industry.

History

File:Piper PA-27 Aztec 5N-ACU Aero Contr Warri 14.05.70 edited-3.jpg
A Piper PA-23 Aztec six-seat charter aircraft of Aero Contractors in 1970, pictured at Warri Airport after a flight from Lagos Ikeja Airport

Aero Contractors was formed in 1959 and officially registered in Nigeria in 1960. At that time, it was a wholly owned by Schreiner Airways B.V. of the Netherlands.

It became a company with initially 40% Nigerian holding in 1973 and subsequently 60% in 1976, anticipating the requirements of the Nigerian Enterprises Promotion Decree of 1977, also known as the indigenization decree. In January 2004, Schreiner Airways was bought by CHC Helicopter (CHC), which acquired a 40% holding in Aero, while the 60% majority share remained within the Ibru family.

On 1 July 2010, CHC sold its interests in Aero for the consideration of 1 Nigerian naira,[3] when Aero became wholly owned by the Ibru family.[4]

In March 2013, industrial action grounded flights for 18 days, in a dispute over outsourcing and reduction in staff numbers. The strike, from 13–28 March, grounded Aero's active fleet of nine aircraft, and was reported to have cost the airline at least N10bn in ticket sales.[5][6]

After financial intervention, the Asset Management Corporation of Nigeria (AMCON), an arm of the Federal Government of Nigeria, held 60% of Aero,[7] and in August 2013 it was reported that AMCON had taken over the management of the carrier. Hugh Fraser was named as new CEO.[8][9]

In August 2013 there was press speculation that the Federal Government will use Aero Contractors as the nucleus of a new national carrier, recapitalizing it through a N200 billion initial public offering (IPO). The new airline was allegedly to be known as 'Nigerian Eagle', several years after the liquidation of the defunct flag carrier Nigeria Airways, and that the airline would commence full operations before the end of the year (2013). The factual basis for this report was the repainting of tan Aero plane in the colours of the Nigeria national football team, the Super Eagles. The Ministry of Air Transport, however, clarified the repainting of the aircraft was only publicity related to the qualification of the National team for the 2014 World Cup.[10]

Corporate affairs

Ownership

Aero was wholly owned by the Ibru family. Asset Management Company of Nigeria (AMCON) now owns 60% of the shares, with the remainder owned by Ibru family interests.

Structure and partnerships

Aero has two divisions:[11]

  • Aero Nigeria – provides scheduled passenger services in Nigeria and western Africa.
  • Rotary Wing – provides helicopter services for the oil and gas industry in Nigeria.

Aero still has a technical partnership with CHC regarding its rotary wing division.[12]

File:AeroContractors Eurocopter Dauphin Makinde-4.jpg
Aero Contractors Aerospatiale SA-365N Dauphin 2, in 2005
File:De Havilland Canada DHC-8-311 Dash 8, Aero Contractors Company of Nigeria AN1030982.jpg
A de Havilland Canada Dash 8 of Aero Contractors in 2006, pictured at Faro Airport, Portugal
An Aero Contractors Boeing 737-300 (now retired)

Business trends

No figures appear to have been published regarding profitability or other business trends.

Destinations

Aero serves the following destinations:

Ghana
Nigeria

Fleet

As of December 2015 the Aero fixed wing fleet includes the following aircraft:[13]

Aero Contractors Fleet
Aircraft In Fleet Orders Passengers
Boeing 737-400 7 — 144
Boeing 737-500 6 — 116
De Havilland Dash 8 Q200 1 — 36
De Havilland Dash 8 Q300 1 — 50
De Havilland Dash 8 Q400 2 — 78
Total 17 0

References

  1. ↑ "Offices & Phone Numbers." Aero Contractors. Retrieved on 8 December 2011. "Aero Lagos International Airport Office Room 2058 2nd Floor Murtala Mohammed International Airport" and "AeroContractors Lagos Airport Office Private Terminal Domestic Wing Murtala Mohammed Airport Ikeja, Lagos"
  2. ↑ "Privacy Policy." Aero Contractors. Retrieved on 8 December 2011. "Aero Contractors Company of Nigeria Limited, (Private Terminal), Murtala Muhammed Airport, Ikeja, Lagos State, Nigeria."
  3. ↑ http://www.sec.gov/Archives/edgar/data/1539429/000119312512298940/d375764d10k.htm
  4. ↑ http://www1.flyaero.com/about-us/history/
  5. ↑ http://www.compassnewspaper.org/index.php/special-desk/aviation/12188-aero-contractors-in-n10b-loss-
  6. ↑ http://m.news24.com/nigeria/Business/News/Passengers-shun-Aero-Contractors-20130403
  7. ↑ http://www.punchng.com/business/business-economy/amcon-confirms-ownership-of-60-stake-in-aero/
  8. ↑ http://www.airfinancejournal.com/Article/3245924/Regions/19896/Amcon-takes-over-Aero-Contractors.html
  9. ↑ http://www.theafricanaviationtribune.com/2013/08/nigeria-amcon-confirms-appointment-of.html
  10. ↑ http://www.thisdaylive.com/articles/national-carrier-aero-changes-name-to-nigerian-eagle/164959/
  11. ↑ http://www1.flyaero.com/about-us/company-profile/
  12. ↑ http://www1.flyaero.com/about-us/history/
  13. ↑ http://www.ch-aviation.com/portal/aircraft/search?search=1&cha=AJ

External links

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