Three investors show interest in Aero Contractors 3 years after

Three years after the Assets Management Corporation of Nigeria (AMCON) took over the management of Aero Contractors, the troubled airline is currently attracting three investors, BusinessDay’s findings show.

Confirming this on Sunday, Ado Sanusi, managing director of Aero Contractors, said these investors are interested in the entire assets of the company including its Maintenance Repair Overhaul (MRO), the aircraft, amongst others.

Aero Contractors, Sanusi said, had attracted 19 willing investors in the past two years with the investors streamlined to just three for talks with the management.

This is as Ayo Obilana, CEO, Selective Securities International Limited, said lack of transparency, due diligence and policy summersaults on the part of the government would make it difficult for the nation’s aviation industry to attract willing investors.

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At present, the three wiling investors are holding talks with the management of the airline on the possibility of investing in the business, but it was not clear the level of their talks, BusinessDay gathered.

TAGGED:aero contractors Aviation industry

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ByIfeoma Okeke-Korieocha

Ifeoma Okeke-Korieocha is the Aviation Correspondent at BusinessDay Media Limited, publishers of BusinessDay Newspapers. She is also the Deputy Editor, BusinessDay Weekender Magazine, the Saturday Weekend edition of BusinessDay. She holds a BSC in Mass Communication from the prestigious University of Nigeria, Nsukka and a Masters degree in Marketing at the University of Lagos. As the lead writer on the aviation desk, Ifeoma is responsible and in charge of the three weekly aviation and travel pages in BusinessDay and BDSunday. She also overseas and edits all pages of BusinessDay Saturday Weekender. She has written various investigative, features and news stories in aviation and business related issues and has been severally nominated for award in the category of Aviation Writer of the Year by the Nigeria Media Nite-Out awards; one of the Nigeria’s most prestigious media awards ceremonies. Ifeoma is a one-time winner of the prestigious Nigeria Media Merit Award under the 'Aviation Writer of the Year' Category. She is the 2025 Eloy Award winner under the Print Media Journalist category. She has undergone several journalism trainings by various prestigious organisations. Ifeoma is also a fellow of the Female Reporters Leadership Fellowship of the Wole Soyinka Centre for Investigative Journalism.