Assets Management Corporation of Nigeria (AMCON) has appointed Tunde Fagbemi as the new managing director of Aero Contractors, as part of measures to reposition the ailing airline.

His appointment came on the heels of the dissolution of the airline’s board on Friday, by AMCON which is both the majority shareholder and creditor of Aero.

According to a statement signed by AMCON, an industry based management team will be put in place to provide the highest level of professional competence, which will ensure a quick repositioning of the company.

The management of AMCON decided to make changes in the management of the airline to protect the brand heritage.

AMCON also maintains that its intervention is in the public interest to sustain and improve the quality service, which Aero is known for in the country.

AMCON assures the regulatory authorities, the travelling public and key stakeholders that the airline will continue to operate on the solid foundation of safety and security with excellent customer service.

AMCON has also engaged a reputable accounting firm to undertake a forensic audit of the airline’s accounts over the last five years.

Fagbemi, who has over 35 years’ experience in aviation, was the managing director of Maevis Aviation Services Limited, one of the biggest concessionaires of the Federal Airports Authority of Nigeria (FAAN).