Assets Management Corporation of Nigeria (AMCON) has appointed Mr. Tunde Fagbemi as the new Managing Director of Aero Contractors.
The development came 48 hours after the board of the airline was dissolved.
AMCON is both the majority shareholder and creditor of Aero.
It currently owns 60% of the company with the remaining 40% held by the Ibru family.
AMCON in a statement said its intervention was informed by the need to protect the brand heritage of the airline, public interest and the need to protect shareholders’ money.
Fagbemi has over 35 years’ experience in the aviation industry.
He was the Managing Director of Maevis Aviation Services Limited, one of the biggest concessionaires of the Federal Airports Authority of Nigeria (FAAN).