Business

**Court restraints former Arik directors from interference, lists debt profile **AMCON takes over Rockson Engineering, Ojeimai farms The Federal Government has promised to take a major decision on Arik Air according to the spokesman for Asset Management Corporation of Nigeria (AMCON), Jude Nwauzor. Nwauzor made the disclosure in an interactive session with the media today. Penultimate week, the House of Representatives had advised the Federal Government to liquidate the airline, saying that the carrier was…

 Star Alliance members, Ethiopian Airlines and Singapore Airlines will expand their codeshare agreement as of June 1 2017, offering customers travelling between Africa and Asia seamless connectivity options.  Ethiopian Airlines’ daily non-stop services to Singapore from Addis Ababa, due to be launched in June 2017, will be covered by the expanded codeshare agreement.  Under the expanded agreement, Ethiopian Airlines customers will be able to access multiple destinations in Australia, China, Japan, Malaysia, New Zealand, Thailand…

African airlines continued their recovery, with February traffic up 7.1 per cent compared to a year ago. This mainly reflects the upturn on the key route to/from Europe, offsetting struggles in the region’s biggest economies of Nigeria and South Africa. Capacity rose 2.3 per cent, and load factor jumped 2.9 percentage points to 66.0 per cent.  This is coming as the International Air Transport Association (IATA) announced global passenger traffic results for February showing a second…

***Country’s entire $12 billion budget inadequate for health care   Air ambulance services have been described as the enabler that would improve Nigerian healthcare, by improving access to hospitals and saving the government many billions of dollars.   This was disclosed by Founder, Flying Doctors, Nigeria, Dr. Ola Brown who said the sector could be helped by concentrating expert resources which also help to reduce healthcare spending. She lamented the high cost of healthcare in the…

The International Air Transport Association (IATA) has called on governments to urgently find alternatives to recently announced measures by the United States and the United Kingdom to restrict the carry-on of large electronic items on certain flights departing the Middle East and North Africa.   The Case for Alternative Measures   “The current measures are not an acceptable long-term solution to whatever threat they are trying to mitigate. Even in the short term it is…

Laments high accident rate   Business mogul and Chairman ANAP Business Jets Limited, Mr. Atedo Peterside has implored aviation regulatory body in Africa to tighten safety requirements to ensure air safety on the continent.   He made the call at the fourth yearly Nigerian Business Aviation conference held in Lagos last weekend. The banker lamented the high accident rate in the continent.   Peterside stated that the International Civil Aviation Organisation (ICAO) safety report 2014…

Wealthy Nigerians who hitherto bestrode the length and breadth of the country in their expensive and state-of-the-art multimillion dollar private jets have now converted them to hire and reward. Hire and rewards entails putting small aircraft to commercial operation and that is done with the permission of the aviation regulatory body. However, the Nigerian Civil Aviation Authority (NCAA) has set out to monitor owners who engage in such practice without notifying the agency as there…

 *Operators relieved, lament N1.8 b loss   Affluent and wealthy Nigerian who can afford helicopter services may now heave a sigh of relief as the Nigerian Civil Aviation Authority (NCAA) has cleared all helicopter operators duly certified by the regulatory authority to commence operations in and out of Abuja forthwith. The NCAA, in a statement by its General Manager, Public Affairs, Sam Adurogboye said a letter has since been dispatched to all concerned operators. It…

As part of its humanitarian gesture to ensure safety of lives across the globe and particularly across its countries of operations, Turkish Airlines has granted official consent for carriage of 200-tons of aid for the next six months to support  the call to tackle hunger and drought in Somalia.   The gesture followed the carrier’s listening to a humanitarian aid campaign that began on social media by a French social media star, Jerome Jarre, calling…

Africa’s most profitable airline, Ethiopian Airways has won ‘Cargo Airline Award for Network Development’ at the tenth anniversary of the Brussels Airport Aviation Awards held on March 9, 2017.  The Network Development Awards are presented to airlines that have developed new routes or achieved a remarkable growth in passengers or cargo. As a result, the ‘Network Development Award Cargo Airline’ award was awarded to Ethiopian Cargo in recognition to the commitment of the airline to…