nigerian airways?

The airline came into being on 23 August 1958^[1]:51 under the name West African Airways Corporation Nigeria Limited (WAAC Nigeria), also known as Nigerian Airways, to succeed the folded West African Airways Corporation (WAAC);^[15] the title “WAAC” was retained due to the prestige this company had previously earned.^[

By July 1980, the fleet consisted of 26 aircraft, split into three Boeing 707-320Cs, two Boeing 727-200s, two Boeing 737-200s, two DC-10-30s, two F27-200s, two F27-400Ms, four F27-600s, six F28-2000s, two F28-4000s, and one Aztec.^[34]:332Nigeria Airways became Airbus' 40th customer in 1981.

Demise

A Nigeria Airways Airbus A310-200 atLondon Heathrow Airport in 1995.

The carrier had accumulated significant debts that outstripped its revenues virtually from the mid-1980s.^[52][53] While 1,000 jobs had been cut by late 1986,^[53] Nigeria ordered the airline to reduce the number of employees —8,500 at the time, with a staff-aircraft ratio of 500:1— even more, and also to reduce or discontinue unprofitable routes

^{Thks to wikipedia.}

Takeaway:   Not an expert in aviation matters in the least. But will do some more 
                      research on the staff to aircraft ratio of 500.:1.