Search AMCON Takes Over Another Airline

The Asset Management Corporation of Nigeria (AMCON) has taken over another airline, Odengene Air-Shuttle Services, known more as OAS Helicopters in Lagos following a court order. It was the third aviation firm to be taken over by the bad bank in four months.

OAS is one of the leading helicopter chatter service companies in the country.

The News Agency of Nigeria (NAN) reports that AMCON had on Tuesday sealed the company at Maryland in Lagos, indicating that the company had been taken over.

The order on the company’s office reads: “POSSESSION TAKEN TODAY 14/2/17 BY AMCON COURT ORDER ON SUIT NO. FHC/4CS/1139/2016

NAN however reports that it could not authoritatively confirm if the company is indebted to some banks that could have warranted such take over.

However, the company was among the airlines that received the Federal Government intervention fund during the tenure of President Goodluck Jonathan.

Recall that AMCON had on Thursday Feb.9, taken over the management of Arik Air, after it had earlier taken over the management of Aero Contractors in 2016.