by Isi Esene
Aero Contractors, Nigeria’s second largest airline has announced the resignation of its managing director, Akin George. According to a statement which was released on Sunday night, his position will be taken over by Obaro Ibru, who was the airline’s deputy managing director.
There are speculations that George was sacked due to the magnitude of debt the airline had to grapple with before the necessary intervention of the Asset Management Company (AMCON).
But the airline management set the records straight disclosing that the George resigned following the commencement of a restructuring exercise initiated by AMCON to put the company back on the path of profitability.
“This is the beginning of a restructuring exercise that will make the airline slimmer and stronger with the aim of making it more competitive. Capt. George has served Aero for 24 years in various capacities, Aero said.
Chairman of the board, Mr. Funsho Kupolokun was quoted in the statement as saying: “The board accepts the resignation of Capt. George and appreciate the services he has rendered to this airline over the last two decades. We wish him the best in his future endeavour”.
The airline reportedly stated that Ibru, the Acting Managing Director, comes with extensive experience in banking and aviation industry ranging from Aviation Project Management, Consumer Banking Product Development, Strategy, ICC Internal Control and Compliance, and Business Process Engineering.