Author: Wole Shadare

 Wants FG to Bailout Sector Over COVID-19 Asset Management Corporation of Nigeria (AMCON) said it has injected around N50billion into the aviation sector solely to stabilize airline operations in the country between 2012 and 2020.  The was disclosed on Wednesday by Mr. Aminu Ismail, the Executive Director, Operations at AMCON. He said AMCON’s intervention led to the purchase of about $1 billion Non-Performing Loans (NPL’s) from Nigerian banks owed by major Nigerian airlines including Aero Contractors,…

    Post-Covid-19 Aviation Opportunities As has been variously touted, every adversity presents with it an opportunity, if only we look closely enough. This COVID-19 pandemic has been no different, as it has created both hurdles and opportunities for entrepreneurs offering new products or services. • Surplus Aircraft Capacity Several airlines worldwide have had to shed substantial capacities in their fleets in the wake of the COVID-19 pandemic. This has been occasioned by the airport closures…

  Ex MD alleges violation of his right Star Orient Aviation Limited has explained circumstances that led to the arrest of its former Managing Director, Mr. Dare Osamo for alleged diversion of the company’s N1 billion. In a statement issued by the company, dated May 27th, 2020 titled, “Arrest of Former MD/CEO of Star Orient Aviation on Allegation of Fraud and Money Laundering: Setting The Records Straight,” It has become necessary that the Management of…

  The Federal Airports Authority of Nigeria (FAAN) arrangement to curtail the spread of coronavirus after resumption of flights could see delay in passengers’ facilitation and long hours of checks and re-checks right from when they arrive the airport and departs. Spokeswoman for FAAN, Mrs. Henrietta Yakubu made the disclosure at an aviation webinar organized by Women in Aviation (WIA), with theme, “Aviation: The New Norm in the post COVID”, she said escorts of VIPs would no…

  There is no doubt that COVID-19 has hit aviation industry very hard. The Federal Government is planning a fresh round of bail-out funds for struggling airlines. The problems of the airlines go beyond intervention fund. Give them N500b, the signs that they would collapse is visible, writes, WOLE SHADARE Worsening crisis Airlines face unprecedented international crisis in the wake of the coronavirus pandemic. The International Air Transport Association (IATA) estimates that global airlines will lose over…

  The New-Normal & Evolving Reality Post-Covid-19 The window of opportunity of the operational pause availed by the onset of this COVID-19 pandemic following the closure of international borders, airspaces and airports has presented the industry with the unique and rare opportunity to reset itself, its priorities and operational strategies. A position re-echoed by the French President Emmanuel Macron in a nationwide televised address to the French people on 12th April 2020 thus, “this is…

  Existential Threat of COVID-19 This pandemic has literally upended the commercial aviation world, with unnerving consequences that are yet unfolding. According to International Air Transport Association (IATA), the world aviation industry’s revenues are forecast to drop by more than half, with possible recovery return to 2019 pre-COVID-19 levels anticipated sometime by Q4 2021. In mid-April 2020, IATA released a further updated forecast indicating that the Covid-19 pandemic will see airline passenger revenues drop by…

  Minister of Aviation, Hadi Sirika on Sunday disclosed that impounded airplane and detained crew of Flairjet that engaged in illegal flights in Nigeria have been found to violate Nigeria Civil Aviation Regulations IS 1.3.3(a) Table 2(IV)7(a) and IS 1.3.3 (a) Table 2(VIII)(4). Sirika, who made the revelation via his Twitter handle noted that the maximum penalty for each of the infractions was N500,00 and both totals N1 million. “We caused them to pay and…

  The Akanu Ibiam International Airport in Enugu State, which was closed in 2019 because of ongoing renovation by the Federal Government, is to be re-opened at the end of COVID -19 pandemic. Minister of Labour and Employment, Dr Chris Ngige, stated this to reporters at the weekend. He also said that one third of the span of Second Niger Bridge had been done while many stretches of Enugu-Onitsha and Enugu-Port Harcourt highways had been…