Aero Confirms AMCON as part owner of airline

Aero has now confirmed that AMCON is now the majority shareholder of the airline while the Ibru family, known as the legacy shareholders maintain a stake in the business.
“The Legacy shareholders have first right of option to buy-back the shares owned by AMCON through the financial investment for equity,”
As a result of the takeover, several changes have been made in the past few weeks to help AERO achieve its set objectives.
Captain Akinlawon George resigned on 30 November to pave way to a new management.
“The incumbent Deputy Managing Director, Mr. Obaro Ibru, has been temporarily appointed as the Acting Managing Director while Captain Russell Leefoon who is in charge of Flight Operations has been appointed as the Acting Accountable Manager, pending the conclusion of the ongoing recruitment exercise,”
The airline said the following positions, Managing Director, Chief Financial Officer and Head, Internal Control & Audit, will all be affected by the takeover.