The National Union of Air Transport Employees has accused the Asset Management Corporation of Nigeria (AMCON) of mismanaging Aero Contractors.
In a statement signed by its National President, Nnabue Konye, the union alleged that AMCON’s management approach has stifled the carrier’s growth and undermined years of gradual recovery in the aviation sector.
The union said a key concern is AMCON’s alleged refusal to provide critical operational funding, which it claimed has left the airline struggling in an already fragile industry.
“AMCON has declined to provide necessary funding for Aero Contractors Company Limited, hampering operational stability and growth,” Konye said.
The union also faulted AMCON’s continued involvement in the airline’s day-to-day operations, arguing that the corporation lacks the technical expertise required for aviation management.
“AMCON lacks technical expertise in aviation, yet continues to interfere in the day-to-day running of the company with inexperienced personnel. This has caused significant setbacks in a time-sensitive industry,” the statement read.
According to the union, the situation has created anxiety among workers, with concerns over leadership direction and long-term job security.
Some staff members, who spoke anonymously, described “uncertain leadership direction” and declining confidence in the airline’s future.
The union also criticised the alleged redeployment of personnel from Arik Air into Aero Contractors, describing it as counterproductive and warning that it could replicate past management challenges.
“AMCON, under whose management Arik Air deteriorated, is now redeploying Arik Air staff to Aero Contractors, despite the latter growing organically from one aircraft to nearly six through prudent management,” Konye said.
Another major concern raised by the union is the alleged directive for Aero Contractors to remit its internally generated revenue to AMCON, a move it said would limit reinvestment and expansion.
The union also called for AMCON to divest its stake in the airline through the capital market, arguing that professional investors would improve governance and operational efficiency.
“We respectfully request that AMCON divest its shares in Aero Contractors through the stock market to allow for professional and market-driven management,” the statement added.
It further urged government intervention, including tax waivers and financial relief, to stabilise the airline and protect jobs.
