Yuletide: Aero Contractor Slashes Airfare To N80,000, Raises Profitability To 14%

Local airline operator, Aero Contractor, on Tuesday, has begun the sales of one-way tickets on all its destinations to N80,000 for families to reunite during the Christmas and New year celebration.

LEADERSHIP reports that airfare has gone up astronomically in the last one year, as one way tickets moved from N50,000 to over N200,000 in the last few months.

However, the increase in ticket fare has made traveling by air above the reach of Nigerians especially the middle class, thereby, making it only accessible by the few elites.

Speaking at the airline’s headquarters, the managing director, Aero Contractor, Capt. Ado Sanusi, said the airline has reduced liability of the company by 33 per cent and increased profitability from negative to 14 per cent.
According to him, the promo which will run from December 2024 to February 2025 was to make Nigerians reconnect with their families during yuletide.

“We are introducing pocket friendly Christmas pricing because as a company with old history of understanding of its customers, we need to give back to them and the promo will start from N80,000 to all our destinations for them to meet their families and loved ones,”

RELATED

Despite 50% Tariff Hike, Internet Usage Hits 1m TB In May

9 hours ago

Interim Dividend: Stocks Gain N377bn In 1 Week

9 hours ago

LEADERSHIP gathered that the Aero Contractor flies into nine destinations currently. The destinations are, Abuja, Lagos, Benin, Port Harcourt, Asaba,Yola, Sokoto and Calabar.

Capt. Sanusi, who further stated that three aircraft are currently in the fleet of the airline, said he targets the airline’s fleet to increase to 10 aircraft.

He, therefore, stated that the airline won’t wetleases any aircraft into its fleet for the December operations.

“Currently, we have three aircraft in our fleet and two are currently running while one is coming up from repair. We are not increasing our route but only routes we ply. We intend to maintain our fleet of about three and we won’t bring any aircraft from outside but we intend to let our customers connect their destinations. And my intention is to bring Aero to the glory of the past of 10 aircraft,” Capt. Sanusi stated.

Speaking on the company’s movement from liability to profitability, Capt. Sanusi stated that the company was insolvent in 2021 and was shut down for eight months before he was appointed managing director.

“Aero has made a profit of about 14 per cent for the first time since 2016 because we haven’t made a profit since then. This is due to the hard work of staff and management. We have turned around the company and we are in the recovery stage and we have reduced liability by 33 per cent. Now, we are at the stage of inviting investors to invest into the company.

“The company was shut down in 2021 for eight months before I came in but with the turn around, it is to invite investors to consolidate on the gains.”

He continued, “we have also done well for the staff because in 2017, we put our staff on redundancy, but now, we have paid National Union Of Air Transport Employees (NUATE), and Air Transport Senior Staff Association of Nigeria (ATSSAN), and on the verge of paying National Association of Aircraft Pilots and Engineer (NAAPE).

“We have almost paid all the outstanding owed to the staff and that’s why I said we reduced liability to 33 percent in accrual and payment. We will continue to do that till we get to the level we want,” he explained.