Nigeria's Aero Contractors, under the management of the Asset Management Corporation of Nigeria (AMCON), has sacked about 900 workers representing 60 per cent of its workforce.
According to Vanguard, the airline issued letters of redundancy to the affected employees earlier in the week.
Media Consultant to the airline, Mr Simon Tumba, who confirmed the development in a statement issued on Thursday in Lagos, said the workers would be paid their pension and gratuity.
Aero was taken over by AMCON in 2013 and as at last September it had about 1,500 workers on its payroll before it suspended flights.
Tumba said the airline had been grappling with huge and unrealistic personnel cost as well as other operational challenges, worsened by lack of enough aircraft to keep all the workers meaningfully engaged.
According to him, Aero Contractors currently has aircraft-to-employee ratio of 1:500, which analysts believe is perhaps the worst in the history of global airline industry.
The airline however, assured the workers that they stand a chance of being recalled as soon as the airline increases the number of aircraft in its fleet in the near future.