Business Archives - Page 3 of 102

Lufthansa orders 20 long haul jets worth $7.7bn

Posted on May 13, 2026 by Wole Shadare

Lufthansa Group recently confirmed an order for 20 long-haul aircraft with a total list price of approximately $7.7 billion. This move is a central part of the group’s fleet modernisation strategy, aimed at replacing older, less efficient widebody jets with state-of-the-art technology. The aircraft have a combined list price of $7.7 billion and will support the group’s ongoing fleet renewal programme to improve efficiency and reduce emissions. Carsten Spohr, CEO of Deutsche Lufthansa AG, said:…

IATA: Prolonged Middle East conflict may lead to imminent jet fuel shortages

Posted on May 11, 2026May 11, 2026 by Wole Shadare

Director of Flight and Technical Operations at the International Air Transport Association, Stuart Fox, has warned that if the war in the Middle East continues, it won’t be long before the world sees fuel shortfalls. Flexibility, he said, could help the industry make better use of fuel and keep schedules intact, stressing that the recent pressure on the global supply of aviation fuel due to the war in the Middle East has put a spotlight on…

₦9bn Debt: Ground Handlers Move to Halt Operations, Airlines Risk Service Disruption

Posted on May 4, 2026May 4, 2026 by Wole Shadare

Operators’ silence irks AGHAN The Aviation Ground Handlers Association of Nigeria (AGHAN) has escalated its standoff with domestic airlines, moving toward withdrawing services due to an outstanding debt exceeding ₦9 billion. The five major handling companies involved are NAHCO, SAHCO, Butake, Precision, and Swissport. If services are withdrawn, both domestic and international flight operations across Nigeria will face near-total disruption, as these firms provide the critical ground support required for any flight to depart or arrive. Following the expiration of…

Delta workers to benefit from $1.3 billion profit bonus, raise pay for fifth year in a row

Posted on May 4, 2026May 4, 2026 by Wole Shadare

Mega carrier, Delta, has announced plans to provide a 4% pay raise to eligible employees worldwide – a significant investment as the airline continues to navigate industry pressures Following a $1.3 billion profit-sharing bonus to employees worldwide this year, Delta is once again investing in our people with a 4% pay raise. This is the fifth consecutive pay raise in the last five years and represents an additional $500 million annual investment in employees. In…

“How Airlines’ Collapse Threatens Nigeria’s Wider Economy”

Posted on April 29, 2026April 29, 2026 by Wole Shadare

President of the Aircraft Owners and Pilots Association, Alex Nwuba, has highlighted the profound multiplier effect that aviation has on a nation’s economy, particularly in a country like Nigeria. He warned that when an airline collapses, the impact is rarely confined to the company itself; it ripples through several critical sectors. Speaking against the backdrop of the volatility in jet fuel and its implications on the fragile state of Nigerian carriers, the speaker said airline…

Ibom Air to cut capacity over soaring jet fuel

Posted on April 27, 2026 by Wole Shadare

Carrier spends N7.6 million on fuel per flight from N2.1million Citing soaring jet fuel prices in Nigeria, Ibom Air on Monday said it may be forced to reduce flight capacity to continue providing services to its customers. The airline’s statement, signed by Aniekan Essienette, Group Manager, Marketing and Communication, said the fuel price situation is an unprecedented crisis for Nigeria’s domestic airlines, adding that at Ibom Air, the cost of fueling its aircraft has more…

Galloping jet fuel: SADC airlines to implement cost recovery, surcharges

Posted on April 27, 2026 by Wole Shadare

The Airlines Association of Southern Africa (AASA) has noted with grave concern the lack of clarity around the availability of jet fuel across the Southern Africa Development Community (SADC) region, beyond next month. Air transport, a crucial pillar of SADC members’ economies, is particularly susceptible to disruptions in fuel supplies because it depends almost entirely on imported crude oil and refined Jet-A1 kerosene. Chief Executive Officer of AASA, Aaron Munetsi, in a statement, said…

Nigeria to deepen aviation ties with UK

Posted on April 26, 2026 by Wole Shadare

British Airways celebrates 90 years of Air service to Nigeria President Bola Ahmed Tinubu has reaffirmed Nigeria’s commitment to deepening economic relations with the United Kingdom, particularly in the aviation sector and other mutually beneficial areas. Tinubu gave the assurance when he met with a delegation from British Airways led by the British High Commissioner to Nigeria, Dr Richard Montgomery and the Commercial Officer of British Airways, Mr Colm Lacy, at the Presidential Villa,…

Thomas: Why Nigeria trails counterparts in air cargo sector

Posted on April 26, 2026 by Wole Shadare

UK‐Nigeria trade hit £8.1 billion Q4 2025 The Director of Cargo Development and Services, Lekan Thomas, said it is a striking irony that Nigeria—the continent’s economic powerhouse—lags significantly behind its peers in the air cargo sub-sector. He disclosed that while the nation ranks fifth in air cargo traffic behind Ethiopia, Kenya, South Africa, and Ghana, some recent industry data actually suggests an even more precarious position for Nigeria when factoring in the sheer dominance of…

Tension, uncertainty as NCAA, operators, oil marketers meet today over jet A1 scarcity, high cost

Posted on April 22, 2026April 22, 2026 by Wole Shadare

Fuel hike, logistic issues cripple domestic schedules, trigger global airline chaos Airlines’ losses exceed $3 billion in two months, mull fare hike The jet fuel crisis has reached a boiling point, leaving Nigerian aviation in a state of high-tension uncertainty. While the industry narrowly avoided a total nationwide shutdown on Monday, the scarcity bite is translating into widespread flight cancellations and a crippled domestic schedule. All eyes are on today, when airlines under the aegis…

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