Nigeria: Aero airline slashes workforce by 60%
(Ecofin Agency) - Nigerian airline Aero on Friday revealed that it has slashed about 60% of its staff in an effort to remain in operation.
According to its Chief Executive, Ado Sanusi, the over 400 staff dismissed are mostly support staff which consist of baggage handlers and security workers.
“It is very clear that if we did not make the decision the business would die. The wage bill for an airline with just two functioning planes is not sustainable,” he said.
This new development is coming weeks after Nigeria’s largest airline, Arik Air, declared bankruptcy due to its inability to pay its staff.
Nigerian airlines have been experiencing fuel shortages in the past months, due to dollar shortages in a country which is in its first recession for 25 years driven by a slump in oil revenues.
This fuel scarcities have resulted in a rise in cancellations and delays of flights across the nation and slashed revenues.