Business Archives - Page 10 of 102

Supply chain challenges to cost airlines over $11 billion in 2025 – new IATA-OliverWyman study

Posted on October 13, 2025 by Wole Shadare

Challenges within the aerospace industry’s supply chain are delaying production of new aircraft and parts, resulting in airlines reevaluating their fleet plans and, in many cases, keeping older aircraft flying for extended periods of time. The worldwide commercial backlog reached a historic high of more than 17,000 aircraft in 2024, significantly higher than the 2010 to 2019 backlog of around 13,000 aircraft per year. Consequently, the slow pace of production is estimated to cost the…

Kuku justifies N712bn Lagos airport rebuild project, says Terminal I obsolete

Posted on October 6, 2025 by Wole Shadare

The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs Olubunmi Kuku, stated that Terminal One of the Murtala Muhammed International Airport, Lagos, is not only obsolete but also an infrastructure that has outlived its lifespan. She lamented that the facility that was built 50 years ago had not undergone major rehabilitation, stressing that it had not undergone rehabilitation ever since the facility was constructed. Kuku further stated that a lot of…

FAAN digitises, provides contactless payment solution at airports

Posted on September 26, 2025September 26, 2025 by Wole Shadare

The Federal Airports Authority of Nigeria (FAAN) has concluded plans to roll out” Operations Go Cashless “, a contactless payment solution at airports nationwide. The pilot phase of the new arrangement, the authority said, will be flagged off with Murtala Muhammed International Airport, Lagos and Nnamdi Azikiwe International Airport, Abuja According to a statement by the airport authority, the new payment architecture is part of its broader strategy to automate and digitise its operations. FAAN…

Air Tanzania operations to Nigeria to deepen SAATM, nations plan major visa changes

Posted on September 22, 2025 by Wole Shadare

…Carrier to increase fleet to 20, plans major expansion The Tanzanian government said its flight operation to Lagos, Nigeria, would help to deepen interconnectivity with the African continent in line with the Single African Air Transport Market (SAATM). Air Tanzania Permanent Secretary, Ministry of Transport, Tanzania, Prof Godius Kahyarara, while fielding questions from Aviation Metric on Saturday at the Air Tanzania inaugural flight corporate dinner at the Lagos Continental Hotel, Lagos, stated the carrier would…

FACT CHECK! First dry-lease aircraft in two decades not correct

Posted on September 18, 2025 by Wole Shadare

ValueJet operates two dry-lease aircraft Green Africa acquired one on dry-lease in 2021 Contrary to claims that Nigeria would be receiving the first set of aircraft on a dry-lease arrangement in nearly two decades, this is not true after all. A dry lease is an aircraft leasing agreement where the owner (lessor) provides the aircraft to the lessee without crew, maintenance, or insurance. The lessee assumes full responsibility for the aircraft’s operation, including obtaining an…

Nigeria to get first dry-lease aircraft October 6, 15 years after blacklist

Posted on September 17, 2025 by Wole Shadare

The Minister of Aviation and Aerospace Development, Festus Keyamo, has said that the first aircraft under a dry lease agreement will arrive in Nigeria on October 6, 2025, more than 20 years after Nigeria was blacklisted from dry aircraft agreements. He stated that the reforms of the Federal Government on aviation, as they affect Nigerian airlines’ ability to get a cheaper source of aircraft financing through the dry-lease arrangement, are paying off. The Minister, who…

NAMA seeks financial autonomy, begs National Assembly to end 50% deduction

Posted on September 16, 2025September 16, 2025 by Wole Shadare

The Nigerian Airspace Management Agency (NAMA) has canvassed for the intervention of the National Assembly to end the 50% revenue deduction and attain financial autonomy. The Managing Director of NAMA, Farouk Umar, who made this plea in his opening remarks at the ongoing 4-day retreat of the House Committee on Aviation in Abuja, maintained that “modernising Nigeria’s aviation sector cannot happen without financial reform.” He called for the full enforcement of section 9(2) of the…

Airlines: How 4% FOB suspension will promote sustainable growth, laud Tinubu, Minister

Posted on September 16, 2025 by Wole Shadare

Airline operators under the aegis of Airline Operators of Nigeria (AON) said President Bola Tinubu’s suspension of 4 per cent Free on Board (FOB) levy on Imports is a clear demonstration of his commitment to creating a business-friendly environment, protecting critical sectors of the economy, and promoting sustainable growth. AON particularly lauded the Minister of Finance, Mr. Wale Edun, for his exemplary leadership as a listening Minister who has shown deep patriotism and responsiveness by heeding…

Aero Contractors Showcases Upgraded MRO Capabilities at Aviation Africa Summit

Posted on September 15, 2025 by Wole Shadare

Nigeria’s oldest aviation company, Aero Contractors, made a strong statement at the just-concluded Aviation Africa Summit and Exhibition in Kigali, Rwanda, by showcasing its upgraded and expanding Maintenance, Repair and Overhaul (MRO) capabilities. The summit, which drew industry leaders, airlines, regulators, and Original Equipment Manufacturers (OEMs) from across the continent, provided a platform for Aero to demonstrate how its MRO division is positioning itself as a trusted partner for airlines seeking efficient, reliable, and Africa-based…

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