The company, in a statement on Tuesday said the spread of the COVID-19 virus had severely impacted all sectors in the aviation industry, including its market, which primarily served the Nigerian oil and gas sector.
It said in addition, the ongoing downturn in the global oil and gas market continued to influence and determine the demand for our services and that the combined effects of these ‘arisings’ had resulted in very significant reductions to its business, particularly a reduction in the number of contracted aircraft in Nigeria.
“As a result, the company must now restructure all aspects of its business model (both Rotary & Fixed Wing), including an extensive review of its operations and we continue to drive efficiencies, but with zero compromise to safety and our core values.
“One of these measures includes the right sizing of the business to ensure that the company has the optimal level of personnel to continue the safe delivery of its services to its clients, whilst allowing the appropriate capacity for future growth.
“Accordingly, and with much regret, the company has taken the very difficult decision to release over 100 pilots and engineers (both National and Expatriates) over the next couple of weeks,” it said.
The statement added that in compliance with the relevant labour and local content laws and also best practices; the company had engaged the leadership of the National Association of Aircraft Pilots and Engineers (NAAPE) to negotiate a fair and equitable redundancy compensation for the affected individuals.
AFRICA TODAY NEWS, NEW YORK