Business Archives - Page 24 of 100

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…

Virgin Atlantic orders seven additional A330neo aircraft to complete fleet transformation

Posted on July 23, 2024 by Wole Shadare

Virgin Atlantic has placed a firm order for seven A330neo aircraft as part of its wider fleet transformation. The agreement takes Virgin Atlantic’s commitment for the A330neo to 19 aircraft in total, providing improved economics. The order was announced during the Farnborough Airshow onboard Virgin Atlantic’s A330neo, named ‘Ruby Rebel’, and registered as GB-VSRB after founder Sir Richard Branson, to celebrate the airline’s 40th anniversary. Shai Weiss, CEO, of Virgin Atlantic said, “Today, we complete our…

IT outage: IATA sympathises with travellers over disruption, United issues waiver for travel dates

Posted on July 19, 2024July 19, 2024 by Wole Shadare

The International Air Transport Association (IATA) has expressed its sympathy to travellers who face disruption because of the massive IT outage that has grounded many airlines in the world and impacted business around the globe. IATA in a statement to Aviation Metric said, “Air transport is among the many industries affected by today’s worldwide IT issues with Microsoft and Crowdstrike.” “We sympathize with travellers who face disruption because of these issues which are outside of…

Forex scarcity:Ethiopian Airlines mandates dollar-only ticket purchases

Posted on July 17, 2024 by Wole Shadare

Due to the excruciating shortage of Foreign Exchange that has hit Ethiopia for more than one year, the country’s national carrier, Ethiopian Airlines has announced that airline tickets for passengers outside the country will now only be available for purchase in US dollars. Previously, air transport tickets for international travellers could be bought using Birr, Ethiopia’s currency if they come to Addis Ababa. The implication is that the situation could impact the carrier and once again…

Reprieve as UAE lifts visa ban on Nigerians two years after

Posted on July 15, 2024July 15, 2024 by Wole Shadare

Reprieve came for many Nigerians as the Federal Government disclosed that the United Arab Emirates (UAE) has lifted the Visa ban placed on its citizens travelling to UAE. Minister of Information and National Orientation Alhaji Mohammed Idris announced while briefing State House Correspondents at Monday’s end of the Federal Executive Council (FEC) meeting. “You are aware that Nigeria has been discussing with the United Arab Emirates on the issue of Visa for Nigerian passport holders going…

Ibom Air takes delivery of another A220-300 aircraft at Maastricht airport

Posted on July 11, 2024 by Wole Shadare

It is an exciting time for Nigeria’s fast-growing airline and one of the country’s flag carriers, Ibom Air has expanded its fleet as the carrier on Thursday took delivery of its brand new A220-300 aircraft few months after the first airplane of the same brand was delivered to the company. The airline’s acquisition of this new aircraft is a strategic move to boost its capacity and meet growing demand for its product. In October 2021,…

NCAA to sanction airlines displaying ‘deceitful’ departure time, rights violations

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

Airlines engaging in deceitful departure time scheduling knowing that they would not be flying at that risk sanctions according to the Nigeria Civil Aviation Authority (NCAA). The regulatory body alleged that some operators mainly attract passengers rushing for early engagements and end up disappointed due to delays or flight cancellations. Recently, airline passengers have complained of some commercial airlines scheduling flights when no planes are available. This has led to arbitrary delays, merging…

At summit, Minister, Kuku seek visa restriction removal, highlight efforts on airport safety, touting, others

Posted on July 6, 2024July 6, 2024 by Wole Shadare

The Federal Airports Authority of Nigeria (FAAN) said recent measures taken by the agency under the leadership of its Managing Director, Mrs. Olubunmi Kuku have been justified by some issues that came up for discussions at the Wings of Change Focus Africa Conference (WOCFA) conference held in faraway Johannesburg, South Africa this week The Minister of Aviation and Aerospace Development, Mr. Festus Keyamo in his opening remarks at the event had earlier emphasised the need…

Qatar reports $22.2 billion revenue, $1.7 billion profit, strongest performance in 27 years

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

…Annual profits 39% higher than previous year Qatar Airways Group has reported the strongest financial performance in its 27-year history, announcing record profits of QAR6.1 billion (US$1.7 billion) in its Annual Report for the 2023/24 financial year. The multiple award-winning airline group reported historic net profits of QAR6.1 billion (US$1.7 billion) during the 2023/24 fiscal, with a total revenue of QAR81 billion (US$22.2 billion), representing an increase of QAR4.7 billion (US$1.3 billion) – up…

IATA: African airlines must overcome high costs, taxation, decrepit infrastructure, others, profit razor-thin

Posted on July 2, 2024July 2, 2024 by Wole Shadare

Carriers struggle with losses, challenges surmountable The International Air Transport Association (IATA) said the African airline sector must overcome many challenges, not least of which are infrastructure deficiencies, high costs, onerous taxation, and the failure to broadly implement a continent-wide multilateral traffic rights regime. IATA is excited about the continent’s airlines making a collective profit but the bad news is that it is razor-thin and well below the global benchmark with many individual…

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