Wole Shadare, Author at Aviation metric

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…

Minister overrules NAMA, directs agency to suspend navigation charges

Posted on July 29, 2024 by Wole Shadare

The Minister of Aviation and Aerospace Development, Mr. Festus Keyamo has overruled the decision of the Nigerian Airspace Management Agency (NAMA) to raise en-route navigational charges from N6,000 to N18,000 and N54,000 per flight The Minister has directed the agency to suspend its earlier announced increase in navigational charges. This decision follows the Minister’s recognition of the current economic challenges faced by Nigerians. The Minister emphasized the need for further consultation before implementing any changes,…

Aircraft shortage to meet growing demand fuels fare hike, says Minister

Posted on July 29, 2024 by Wole Shadare

Minister of Aviation and Aerospace Development, Mr.Festus Keyamo, has promised a reduction in ticket fares soon. He emphasized that, currently there is a shortage of planes by local operators to meet the growing demand for air travel thus the hike in fares. The financial difficulty faced by airlines has impacted them negatively as they have scaled down operations, and aircraft. At the same time, poor services have gone a notch higher with many passengers bearing…

Nigeria’s private jet ownership rises to 157 from 44 in 20 years, Task Force reveals findings

Posted on July 29, 2024July 29, 2024 by Wole Shadare

Findings reveal illegal operators undermine security, Govt, losses revenue Operations opaque The operations and acquisition of private jets in Nigeria have risen exponentially. From a mere 44 private business jets in the country in 2005, Two decades on in 2024, that number has risen to 157; an increase of 357 percent over two decades. However, the increase in the acquisition of these flying objects is not for just navigating in luxury from one corner of…

Nigeria writes UK for tier one airport for Nigerian airlines

Posted on July 26, 2024July 26, 2024 by Wole Shadare

The Minister of Aviation and Aerospace Development, Mr. Festus Keyamo said that the Federal Government has written to the United Kingdom to allow Nigerian carriers particularly Air Peace operate to Heathrow Airport. The Minister who spoke at the League of Airports and Aviation Correspondents (LAAC) seminar in Lagos on Friday said Nigeria would no longer allow a situation where the country’s airlines are not allowed to tier one airports overseas in line with the Bilateral…

Nigeria identifies wet lease, others as obstacles to carriers’ growth

Posted on July 26, 2024 by Wole Shadare

NANTA seeks Minister’s intervention in travel trade market Trans-boarder ticket sales shrink domestic market by 40% For many years, Nigerian airlines have been faced with the challenge of getting aircraft on a dry-lease agreement which has put enormous strain on their operations as airplanes are only available to the operators on a wet-lease basis with huge attendant costs. Faced with the situation that has led to the shrinking of the country’s domestic aviation market…

NAMA raises ‘outdated’ navigational charges to N18, 000 , N54, 000, may trigger hike in fares

Posted on July 26, 2024 by Wole Shadare

Extension costs rise too, N10b overhead, N21b personnel cost, N12b capital cost in 2023 The Nigerian Airspace Management Agency (NAMA) has raised en-route navigational charges from N6,000 to N18,000 and N54,000 per flight just as the airspace agency equally increased the extension of hours of service to airlines from N50,000 to 450,000 per extension to enable the agency to recover the cost of diesel and other logistics during the period of extension. The Managing…

VistaJet: Redefining the Landscape of Private Aviation in Nigeria

Posted on July 25, 2024July 25, 2024 by Wole Shadare

By Philippe Scalabrini, President – Europe &Afrique, VistaJet Since the outbreak of the COVID-19 pandemic, two things about the Nigerian private aviation sector have become common knowledge: business aviation requires a revamp, and Nigerians are gradually shifting their perception towards flying private. While the global aviation industry was one of the worst hits when the pandemic struck in 2020, the Nigerian private aviation sector is still yet to recover from the catastrophe, having…

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