Aero Contractors has shut operations 63years after commencing flight services in Nigeria.
The shut down will take effect from Wednesday,according to a statement .
The closure of operations of the airline is coming barely a decade after the Asset Management Corporation of Nigeria (AMCON) took over the running of the airline.
The airline despite the takeover by AMCON has been facing turbulent waters and its fortunes had not improved hithertho.
There were several allegations of financial misappropriation leveled against the former owners of the airline led by Mrs. Cecilia Ibru and its debts profile, which run into billions of naira owed the Federal Airports Authority of Nigeria (FAAN), Nigerian Airspace Management Agency (NAMA), financial institutions and other vendors.
The media consultant to the airline said that the suspension of operations was due to the impact of the challenging operating environment on its daily operations.
