Nigeria’s dream of having her National Carrier has once again been shattered. This was due to the inability of the Federal Government and Aero Contractors to reach a compromise on that. The duo had begun talks on the project months back. But mid way into their discussion, things fell apart. The Federal Government, represented by the Ministry of Aviation, under Princess Stella Oduah, and Aero management couldn’t proceed with the deal due to what a source described as ‘the non resolution of certain terms by both parties’.
The government actually wanted to convert AMCON’s 60 percent equity in Aero to what they are bringing to the table, but Aero management refused to acquiesce to that. Thus leading to the breakdown of their talks. Aero is majorly owned by the Ibru family and had been wallowing in financial distress and debt. As a matter of fact, that was the reason Mustapha Chike-Obi’s AMCON initially took it over. The Federal Government stepped in at some point, thinking they could partner the company. But from the look of things, that may also not happen – except the grey areas are sorted out by the concerned parties. Meanwhile, prior to their talks breaking down, one of Aero’s planes, a Boeing 735-500, had been painted in the proposed Nigerian Eagle colours of green and white. The owners, of course, will have no other option than to return it to its old colours of white and orange.