Wole Shadare, Author at Aviation metric

Forex scarcity: Foreign airlines place restriction on tickets

Posted on April 21, 2016 by Wole Shadare

Unions ground Arik Air over N12.5bn debt Airline’s losses put at over N300m A fresh crisis looms in the aviation industry as some foreign airlines have concluded plans to quote and receive payment for tickets only in the United States dollars. The situation is as a result of their inability to repatriate funds out of the country due to scarcity of the US currency. Over $2 billion of foreign airlines’ debts have been trapped in…

Foreign airlines enjoy 80% market share in Africa

Posted on April 20, 2016 by Wole Shadare

Despite the huge potentials, African carriers are playing second fiddle to foreign airlines, which are said to be controlling 80 per cent of the region’s aviation market, leaving the remaining 20 per cent for their Africans counterparts. This has triggered concern of huge imbalance between the pair. Aviation experts, however, expressed disappointment with the situation, saying it had slowed aviation growth despite Africa’s over one billion population. To them, the domination of the market by…

Damaging effects of Arik’s suspension of operations

Posted on April 20, 2016 by Wole Shadare

*Brief’s media today Despite huge financial losses on its domestic operations occasioned by the disruption of its operations by the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), Nigeria’s flag carrier airline, Arik may also be counting its losses on regional and international operations. The carrier has huge flight network to New York, Johannesburg, London, Accra, Banjul, Dakar, Monrovia, among others. It was learnt that virtually all its flights including destinations earlier…

Agony, as unions ground Arik over N12.5bn debt

Posted on April 20, 2016 by Wole Shadare

*Overland owes N7B-Unions *Airline suspends operations *Losses put at over N300M For six hours, aviation unions under the aegis of Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and the National Union of Air Transport Employees (NUATE) ensured that the plan to ground Arik Air over alleged N12.5b debt owed the Federal Airports Authority of Nigeria (FAAN) was effective. The unions’ action lasted from 6.30am to noon. The airline’s losses are yet to be…

Passengers stranded as unions ground AriK over alleged N12.5b debt

Posted on April 20, 2016 by Wole Shadare

Protesters under the aegis of National Association of Aircraft Pilots and Engineers (NAAPE) and the National Union of Air Transport Employees (NUATE) picketed Nigeria’s flag carrier airline, Arik. Protesters, numbering over a hundred persons had stormed the General Aviation Terminal (GAT) of the Murtala Muhammed Airport, Lagos and successfully grounded the operations of the airline over claim that the carrier owe over N1b to the various aviation agencies. They equally accused the airline of owing…

Nigeria, others eye 2017 single African air transport

Posted on April 20, 2016 by Wole Shadare

Nigeria, Egypt, Morocco, South Africa, Rwanda and Zimbabwe are at the verge of meeting the target of having a single air transport market by the end of January 2017, Secretary General, African Airlines Association (AFRAA), Dr. Elijah Chingosho, has said. Chingosho said the possibility was very high considering the fact that these nations were ready to implement the Yamoussoukro Declaration that calls for African countries to open their skies to more flights from African…

Ethiopian to launch flights to New York-Newark

Posted on April 19, 2016 by Wole Shadare

Africa’s biggest airline, Ethiopian Airlines has announced that it would commence scheduled thrice weekly flights to New York-Newark from Addis Ababa from July 3rd 2016, via Lomé, Togo. The carrier will be deploying Boeing 787 Dreamliner on this route, which not only offers unparalleled onboard comfort to passengers, but is also the world’s most environmentally friendly aircraft with its lower carbon and noise emissions. Ethiopian’s Boeing 787 Dreamliner is configured with 24 business class and…

IATA forecasts Africa’s economy to grow by 4.7% in five years

Posted on April 19, 2016 by Wole Shadare

*Unfolds Aviation Day Africa agenda Over the next five years, the African economy is forecast to grow at a strong 4.7 per cent per year, well above the global average rate, according to the International Air Transport Association (IATA). It added that for the continent to realise its full economic potential, aviation – particularly commercial air transport – must be prioritised. Aviation in Africa carries over 70 million passengers a year, supports more than 6.9 million…

Overland to launch Akure-Abuja flight

Posted on April 19, 2016 by Wole Shadare

Overland Airways has concluded plans to launch scheduled flight services from Akure, the Ondo State capital, to Abuja, Nigeria’s Federal Capital Territory. The launch is slated for April 25, 2016. The flights which will be operated three times weekly on Mondays, Wednesdays and Fridays, demonstrate a strategic partnership with the government and people of Ondo, the Sunshine State, to accelerate economic development in the State and its environs. “We are humbled to serve…

Spanish Airline, Iberia stops operations to Nigeria

Posted on April 19, 2016 by Wole Shadare

*Cites dwindling traffic for action Spain’s national airline, Iberia Plc has attributed dwindling passenger traffic to its suspension of Nigeria’s route as the carrier said it would stop operations in and out of Nigeria, effective May 12, 2016. In a letter to its trade partners, Regional Commercial Manager of the airline, Mr. Kola Olayinka, made available to New Telegraph stated that it was a tough decision that had been taken by its head office…

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