Wole Shadare, Author at Aviation metric

Minister:Why local insurance firms can’t cover big aircraft

Posted on August 5, 2024August 5, 2024 by Wole Shadare

Minister of Aviation and Aerospace Development, Mr. Festus Keyamo lamented that many of the insurance firms in Nigeria cannot insure many of the aircraft in the fleet of Nigerian airlines. The Minister disclosed to journalists in Lagos that the lack of capacity and the high premiums by the insurance firms had led to a hike in airfares. He disclosed that the new rule of the National Insurance Commission (NAICOM) is that every risk must be placed in…

Overland Begins Direct Lagos, Abuja Direct Flight Services

Posted on August 5, 2024 by Wole Shadare

Overland Airways, Nigeria’s longest-serving domestic airline, announces the commencement of direct flight services from Lagos to Abuja. Beginning on August 9, 2024, Overland Airways will offer regular daily direct flights between Nigeria’s economic hub Lagos and the administrative capital Abuja, operating over 60 weekly frequencies between the two cities to boost capacity on the route. This new service operating with Overland Airways’ brand new Embraer E-175 jets in a two-class configuration of Premium and Economy…

Unions plead with Tinubu over Arik’s crisis

Posted on August 5, 2024August 5, 2024 by Wole Shadare

Unions in the aviation industry have appealed to President Bola Tinubu to intervene in the ongoing crisis at Arik Air following the seizure of one of its aircraft after the Supreme Court granted judgment to businessman, Chief Arthur Eze. In implementing the judgment, the Nigerian Airspace Management Agency (NAMA) grounded the airline’s aircraft last week for indebtedness following the execution of a court judgment. The Nigerian Civil Aviation Authority (NCAA) has denied that the airline’s…

Airports transformation ‘ll boost positive image for Nigeria, says FAAN MD

Posted on August 3, 2024 by Wole Shadare

The Managing Director of the Federal Airports Authority of Nigeria ( FAAN), Mrs Olubunmi Kuku said the deliberate transformations ongoing at Nigerian airports are geared towards enhancing passengers’ experience and boosting a positive image of Nigeria. According to Kuku who spoke during a courtesy visit to her office by the Yinka Folami-led executive Council of the National Association of Nigeria Travel Agencies (NANTA), the key transformation ecosystem also consists of zero tolerance against activities inimical…

Inconsistent unified central data system inhibits aviation, travel policies, growth, says Bernard

Posted on August 1, 2024August 1, 2024 by Wole Shadare

FCM boss, Adejoju harps resilience in corporate travel resilience amid economic downturn The Group Managing Director of Finchglow Holdings, Bankole Bernard has lamented the inconsistent data from various agencies of aviation is impeding industry growth, adding that a central data system would solve 50% of our challenges, providing a reliable foundation for policy formulation and business planning. Bernard made the disclosure last week as one of the panellists at the 28th annual conference of the…

Kuku seeks speedy aviacargo implementation schedule

Posted on August 1, 2024 by Wole Shadare

The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs Olubunmi Kiku has tasked the Aviacargo cargo roadmap committee to immediately submit its implementation schedule, noting that it was of great importance to the government. The coordinator of the Committee Mr. Ikechi Uko had briefed her on the work done so far. He pointed out that Wednesday was the first meeting of the enlarged committee in over 10 months. He thanked the…

IATA: Africa’s 16.9% air travel demand up 16.9%, tops world’s best load factor

Posted on July 31, 2024July 31, 2024 by Wole Shadare

The demand for air travel in Africa rose by 16.9% in June, while capacity was up 5.8% year-on-year, making the continent’s air travel world’s best-improved load factor according to the International Air Transport Association (IATA) which released data for June 2024 global passenger demand. The load factor rose to 77.0% (+7.4ppt compared to June 2023). This was the largest improvement in load factor among all regions. While total demand, measured in revenue passenger kilometres (RPK), was up 9.1% compared to June…

Airbus, partners invest in SAF financing fund

Posted on July 30, 2024July 30, 2024 by Wole Shadare

Airbus, the Air France-KLM Group, Associated Energy Group, LLC, BNP Paribas, Burnham Sterling, Mitsubishi HC Capital Inc. and Qantas Airways Limited have co-invested in a Sustainable Aviation Fuel (SAF) financing fund to accelerate the production of SAF.The corporate partners worked with investment manager Burnham Sterling Asset Management to establish the Sustainable Aviation Fuel Financing Alliance (SAFFA) investment fund in which Airbus is the Anchor Investor. The commitment from the seven partners is amounting to an…

Seized aircraft: NAMA urges Arik, Eze to settle dispute, denies exparte order receipt

Posted on July 30, 2024July 30, 2024 by Wole Shadare

The Nigerian Airspace Management Agency (NAMA) said it is yet to be formally served the ex-parte order by Arik Air stopping further execution of the judgment of the Supreme Court. It tasked the parties to the dispute to resolve their issues as quickly as possible so that the Arik aircraft in question could resume flight operations. NAMA’s Director of Public Affairs and Consumer Protection, Alhaji Abdullahi Musa in a statement explained that on July…

Minister executes Eze’s $2.5 million judgement, grounds Arik’s plane, airline fumes

Posted on July 30, 2024July 30, 2024 by Wole Shadare

The chief executive officer of Arik Air, Capt Roy Ilegbodu ( (In Receivership) has expressed shock over the grounding of one of its aircraft by the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo. The reason for the action was as a result of a $2.5 million loan granted Arik’s owner, Sir Johnson Arumemi-Ikhide by billionaire businessman, Chief Arthur Eze. Eze got a Supreme Court judgment against the Arik Air founder. He was said…

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