Nigeria’s second-largest commercial airline, Aero Contractors, has announced it will suspend “schedule services” from tomorrow. It is the third airline to suspend operations in Nigeria. Iberia suspended its route to Africa’s second biggest economy in May, followed by United Airlines the following month.
According to Aero Contractors, the operating environment in Nigeria has hindered any possible progress especially in the last six months when the local currency, the naira, depreciated against the US dollar.
The announcement effectively means the company, which has more than 1,000 staff including engineers and pilots, is closing up shop, BBC reports.
Five years ago Aero Contractors had about 18 aircraft and multiple helicopters, but as of July this year, the fleet comprised only two aircraft.
It mainly flies from Lagos to the capital, Abuja, and to coastal states.
The news comes on the day figures showed Nigeria’s economy had officially slipped into recession.