ACI, IATA want financial relief airport operators, airlines 

ACI, IATA want financial relief airport operators, airlines 

Airports Council International (ACI) World and the International Air Transport Association (IATA) have called for governments to quickly grant financial relief to assist airport operators and airlines during the unprecedented COVID-19 crisis and support the essential connectivity the industry will provide for economic recovery. The industry is united with governments around the world in efforts to stop the spread of the virus, and, in the face of massive government imposed travel restrictions, the industry is…

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IATA gets new date for 76th AGM

IATA gets new date for 76th AGM

  The International Air Transport Association (IATA) announced that its rescheduled 76th Annual General Meeting (AGM) and World Air Transport Summit will take place in Amsterdam, the Netherlands on 23-24 November 2020. IATA’s 76th AGM and World Air Transport Summit will be hosted by KLM Royal Dutch Airlines at the RAI Convention Centre. The dates were selected in anticipation that government restrictions on travel will have been lifted and that the public health authorities in…

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Dwindling revenue may stall airport infrastructure, May salaries-FAAN

Dwindling revenue may stall airport infrastructure, May salaries-FAAN

  Seeks FG’s assistance The Federal Airports Authority of Nigeria (FAAN) has expressed concern over the dwindling revenue of the agency following the continued lockdown due to the Coronavirus pandemic. The implication according to the authority could affect payment of workers’ salaries and provision of infrastructure at many of the country’s international airports. Legal Adviser to FAAN, Dr. Clifford Omozeghian, told journalists in Lagos that they would liaise with the Gederal Government to see how the issue of…

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COVID-19: Airlines in touch with Mayday realities

COVID-19: Airlines in touch with Mayday realities

  By the end of May 2020, most airlines in the world will be bankrupt. Coordinated government and industry action is needed now, if catastrophe is to be avoided, writes WOLE SHADARE Bankruptcy fear As the impact of the coronavirus and multiple government travel restrictions sweep through the world, many airlines have probably already been driven into technical bankruptcy, or are at least substantially in breach of debt covenants. Cash reserves are running down quickly as fleets…

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Airbus ‘Bleeding Cash Fast’, Faces Deeper Job Cuts, Planes demand evaporates

Airbus ‘Bleeding Cash Fast’, Faces Deeper Job Cuts, Planes demand evaporates

    Far reaching survival measures underway-CEO Airbus CEO, Guillaume Faury has warned his 135,000 employees to brace for potentially deep job cuts as the manufacturer is “bleeding cash at an unprecedented speed” amid the aviation crisis brought on by Covid-19. A letter sent to employees and seen by news outlets warned that Airbus’ survival is at stake unless it takes “far-reaching measures”. The internal memo was sent just days before Airbus releases its financial…

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Airlines’ face bankruptcy as cash reserves run out

Airlines’ face bankruptcy as cash reserves run out

  Workers’ fate uncertain, job losses loom There are indications that Nigerian carriers are at the brink of bankruptcy following COVID-19 pandemic as airlines’ cash reserves are fast drying up. By the end of May-2020, most airlines in the world, particularly Nigerian airlines will be bankrupt. Coordinated government and industry action is needed – now – if catastrophe is to be avoided. As the impact of the coronavirus and multiple government travel reactions sweep through…

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Amid rapid cash burn, Arik cuts workers salaries by 80%

Amid rapid cash burn, Arik cuts workers salaries by 80%

  90% work force proceed on leave without pay from May 1 As airlines’ cash reserve dries up, Nigeria’s flag carrier airline, Arik is showing vulnerability to COVID-19 pandemic as the airline has taken drastic measure to avoid the drop into extinction. Consequently, the carrier in a statement by its Chief Executive Officer, Capt. Roy Ilegbodu said after careful deliberation and analyses, management has decided to implement an 80 per cent pay cut for all members…

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Professionals seek N30b stimulus for tourism sector

Professionals seek N30b stimulus for tourism sector

  Propose tax waiver, bank grant moratorium for six months     The Institute for Tourism Professionals of Nigeria (ITPN) has urged the Federal Government to accord priority and prime attention to the tourism industry in all its economic stimulus, palliative and intervention initiatives to cushion as well as bring productive stability in the national economy that has suffered summersault due to the Covid-19 global pandemic. In a statement made available to Woleshadarenews, the National President…

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Reps propose single digit interest loans, stimulus to save aviation

Reps propose single digit interest loans, stimulus to save aviation

The House of Representatives Committee Chairman on Aviation, Nnolim Nnaji has stressed the need for a special intervention fund for the air transport sector to cushion the post covid-19 impact on the industry. Nnaji suggested a single digit interest loan for indigenous airline operators and special Federal Government grant to the Federal Airports Authority of Nigeria, (FAAN), Nigerian Airspace Management Agency  (NAMA) and the Nigerian Meteorological Agency, (NIMET) to help them in the planned facilities…

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COVID-19: Nigeria, South Africa, others top Africa’s biggest losers-IATA

COVID-19: Nigeria, South Africa, others top Africa’s biggest losers-IATA

  Nation risks 125, 000 jobs, $0.99 bn revenue loss Group calls for urgent help to save airlines The International Air Transport Association (IATA) renewed its call for government relief measures as the impacts of the COVID-19 crisis in Africa deepen. IATA, in its latest assessment of COVID-19 crisis impact on African airlines and air transport listed Nigeria, South Africa, Ethiopia, Kenya, Tanzania, Mauritius, Mozambique, Ghana, Egypt, Senegal and Cape Verde as countries facing the…

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