Business Archives - Page 12 of 100

Global fleet age hits 14.8 years as aircraft deliveries fall 26% below forecast

Posted on June 24, 2025 by Wole Shadare

In a year where global passenger traffic has soared past pre-pandemic levels, airlines find themselves grounded by an unexpected adversary: the supply chain. Despite a booming appetite for air travel and bullish industry growth projections, carriers worldwide are struggling to receive the aircraft they’ve ordered, resulting in a fleet age that has reached an all-time high of 14.8 years. That statistic is more than an inconvenience for an industry driven by precision, fuel efficiency, and…

Experts urge govt to align aviation policy to sustain tourism

Posted on June 23, 2025 by Wole Shadare

Experts in the aviation value chain over the weekend took a holistic view of the aviation and tourism sectors and were unanimous that they are critical sectors that would help to unlock the economic potential of the country if the government and policymakers take them seriously. They urged to realign its strategies of aligning aviation development with sustainable tourism potential. They spoke at a webinar put together by the Institute of Chartered Secretaries and Administrators…

Ogun Installs World-class Airfield Lighting System at Gateway Airport

Posted on June 17, 2025 by Wole Shadare

The Gateway International Airport in Ogun State has been successfully built and equipped to compete with any airport of its type and category worldwide, making it one of the best-equipped in Nigeria, the Ogun State Government has said. According to a statement on Tuesday by the Special Adviser to Governor Dapo Abiodun on Media and Strategy, Kayode Akinmade, the airport has convincingly met all necessary standards, as the State Government has installed state-of-the-art lighting systems…

Again, FCCPC summons Air Peace over ticket refund complaints

Posted on June 16, 2025 by Wole Shadare

The Nigerian apex consumer protection agency, the Federal Competition and Consumer Protection Commission (FCCPC) has again summoned the management of Air Peace for what it described as a deluge of consumer complaints from across the country relating to non-refund of ticket fares even in the instances where the airline had cancelled its flights operations. This is the second time in seven months that the agency would be summoning the airline with a view to…

Air Peace Makes Nonstop Flight From Abuja to St. Kitts, Expanding Africa’s Global Reach

Posted on June 14, 2025June 14, 2025 by Wole Shadare

Nigeria’s flag carrier airline, Air Peace, on June 12, 2025, made a non-stop flight to the Robert L. Bradshaw International Airport in Basseterre, St. Kitts and Nevis from the Nnamdi Azikiwe International Airport, Abuja. The service, arranged for a Pan-African business conference in the Eastern Caribbean, carried delegations from Nigeria, thereby underscoring the airline’s growing trajectory and strategic foray into the global market. The St. Kitts & Nevis flight is the airline’s third foray into…

NCAA backs solution to resolve travel challenges

Posted on June 12, 2025 by Wole Shadare

The Nigeria Civil Aviation Authority (NCAA), has endorsed the unveiling of a client-based solution unveiled by a consortium to resolve challenges associated with travel, in particular re-protection for passengers triggered by operational, weather-related related and other infractions. The new solution, “Introducing Propel Re protection System”, is a unique tech-powered platform designed to help Nigerian carriers re-protect passengers when flight disruptions occur. According to the promoters Propel Reprotection, happens easily and airlines can effect passengers’ transfer…

Jega, Ex-AMCON ED, Testifies, Says Arik Never Cooperated With AMCON

Posted on June 5, 2025June 5, 2025 by Wole Shadare

A former Executive Director at Asset Management Corporation of Nigeria (AMCON), Mr Abbas Muhammed Jega, on Wednesday appeared at the Special Offences Court in Ikeja, Lagos, to testify in the ongoing case between the Economic and Financial Crimes Commission (EFCC) vs the ex-AMCON MD/CEO, Ahmed Kuru, Kamilu Omokide, a former receiver manager of Arik Air Ltd; Captain Roy Ilegbodu, the airline’s CEO; Union Bank Ltd; and Super Bravo Ltd. Jega appeared as the third prosecution…

Mozambique tops $1.3 billion in airlines blocked funds by governments, Nigeria maintains clean bill

Posted on June 1, 2025June 2, 2025 by Wole Shadare

Trapped funds violate BASA, raise rate risks, says IATA The International Air Transport Association (IATA) reported that $1.3 billion in airline fund is blocked from repatriation by governments at the end of April 2025. This is a significant amount, although it is an improvement of 25% compared with the $1.7 billion reported for October 2024. For two years, Nigeria has maintained a clean bill as the country is not among the nations owing foreign carriers….

Kuku: Challenges in aviation, opportunity for investments

Posted on May 27, 2025 by Wole Shadare

Sector contributes $1.7 billion to our GDP The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku said each challenge facing the country’s aviation sector represents a potential investment awaiting realization. She noted that challenges in the mode of infrastructure deficiencies, regulatory frameworks, and financing requirements which had persisted in Nigeria’s aviation industry for a long time should not be seen as obstacles but rather as opportunities. Kuku noted that…

NSIB probes crash-landing of trainer aircraft at Ilorin airport

Posted on May 23, 2025 by Wole Shadare

The Nigerian Safety Investigation Bureau (NSIB) has commenced an investigation into the crash-landing of a Diamond training aircraft operated by the Aviation Training School, Ilorin. The incident occurred at 17:28 local time on May 23, 2025, during a simulated instrument approach on Runway 05 at Ilorin International Airport. The aircraft veered off the runway and came to a stop on the grass verge. Two occupants were on board. Both sustained serious injuries and were swiftly…

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