Business Archives - Page 23 of 104

Why Nigeria’s wet lease pact remains unprofitable-Sanusi

Posted on December 10, 2024 by Wole Shadare

..Lists reasons airlines struggle The Managing Director of Aero Contractors, Capt Ado Sanusi has given the reason why wet leased aircraft are only profitable for a very short period. In a media briefing in Lagos, the airline chief explained that the profitability of a wet lease is only determined by the stability of the local currency which is the Naira in Nigeria. He however stated that the closing of different tiers of exchange rates…

IATA: Nigeria maintains clean record, owes no foreign airline

Posted on December 9, 2024December 9, 2024 by Wole Shadare

Blocked airline funds drop to $1.7b Nigeria has continued to retain its clean record by continuously missing from the infamous black book of airlines in which funds were trapped in the country. Since July, no airline has had its funds trapped in Nigeria as over $800 million of airlines’ money trapped had been paid. IATA maintain the position today stressing that nine countries account for 83 per cent of the airline industry’s blocked funds, which…

Kuku’s ‘Operation AirClean’ to stop bad practices at airports, says Dati

Posted on December 5, 2024 by Wole Shadare

The charge by the Managing Director of the Federal Airports Authority of Nigeria (FAAN) Mrs Olubunmi to security agencies to stamp out touting at the Murtala Muhammed Airport, Lagos and other airports across the country should not be seen as an indictment but a wake-up call to weed out persons soiling the image of the nation. This was disclosed by a former spokesman for FAAN, Yakubu Dati who called on airlines, service providers and stakeholders…

Aero slashes fares on all routes to N80,000, eyes investors

Posted on December 3, 2024December 3, 2024 by Wole Shadare

Carrier sees 14% profit, reduces salary liabilities by 30% Nigeria’s oldest airline, Aero Contractors has slashed airfares for the festive season to N80,000 from over N110,000 airfares currently going for to many destinations in the country. Speaking to journalists at a media briefing at the airline’s office at the Murtala Muhammed Airport, Lagos on Tuesday, the Managing Director of the airline, Capt Ado Sanusi said the idea was to give back to customers during…

Iyayi: Dormant airstrips, airports stunt aviation, tourism growth

Posted on December 2, 2024 by Wole Shadare

President of TopBrass Airlines and a member of Airline Operators of Nigeria (AON), Roland Iyayi has lamented that many of the 31 airports and 91 airstrips across the country are not helping the growth of tourism because they lie dormant. He said the airstrips and airports should be opportunities for the domestic market with smaller airplanes like 19 seater air shuttles to many places with airstrips to boost commerce and tourism. Speaking to Aviation Metric…

Airlines face existential threat, says ASRT President, Onitiju

Posted on November 28, 2024November 28, 2024 by Wole Shadare

Domestic travel volume shrinks over dwindling airplanes, others President of Aviation Round Table (ART) Air Commodore Ademola Onitiju (Rtd) said the volume of the domestic travelling public for whom the stakeholders and airline operators seek to make aircraft available is dwindling due to the high cost of air tickets and reduced purchasing power of Nigerian citizens. They equally emphasised the need for purposeful coordination between the aviation sector and other government agencies especially the …

Safety: Nigeria’s €66 million radar system obsolete, NAMA seeks replacement

Posted on November 27, 2024November 27, 2024 by Wole Shadare

The Nigerian Airspace Management Agency (NAMA) has called for the replacement of the country’s radar system, as the one in operation is said to be obsolete with the system lagging behind current edition use in most parts of the world. Director of Air Traffic Services at the Nigerian Airspace Management Agency (NAMA), Mr Tayo John stated this during a visit to the Total Radar Coverage of Nigeria (TRACON) site at the international wing of the…

Najomo may get DG NCAA confirmation after Nuhu’s tenure ends Feb 2025

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

FG applies delay strategy to solve leadership conundrum The controversy that led to the Federal Government’s inability to proceed to confirm the appointment of the Acting Director-General of the Nigeria Civil Aviation Authority (NCAA), Capt. Chris Najomo as substantive DG of the agency is expected to come to an end soon. Reason: The Director-General of NCAA recognized by law, Capt. Musa Nuhu’s five-year tenure comes to an end in February 2025. This could pave…

NAMA begins work on decrepit navigational systems

Posted on November 24, 2024 by Wole Shadare

NAAE president pushes for more funds The managing director of the Nigeria Airspace Management Agency (NAMA) Engr Ahmed Umar Farouk said the management is not unaware of the deplorable state of some facilities in the navigational systems assuring that frantic efforts were being made to address them Speaking at the Annual General Meeting of the National Association of Air Traffic Engineers (NAAE) held over the weekend in Abuja, Farouk urged the engineers to come up…

NCAA: How FAAN closed 165 gaps to get Abuja, Lagos airports recertification

Posted on November 22, 2024November 22, 2024 by Wole Shadare

…To commence second phase exercise for other aerodromes The Acting Director-General of Nigeria Civil Aviation Authority (NCAA), Capt. Chris Najomo said the renewal of the aerodrome certificates for Lagos and Abuja airports – marks an important milestone in the country’s journey towards achieving excellence in aviation safety and security. He, however, disclosed that the Federal Airports Authority of Nigeria (FAAN) got the recertification for the Lagos and Abuja airports after closing 136 items or…

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