Business Archives - Page 4 of 104

Walsh: Airfare rises ‘inevitable’ as Nigeria, global airlines face extra $100bn jet fuel bill

Posted on June 8, 2026 by Wole Shadare

Wole Shadare, Rio de Janeiro, Brazil The Director-General of International Air Transport Association (IATA), Willie Walsh, said global airlines, including Nigerian carriers, will have to spend an extra $100bn on jet fuel this year, with fares inevitably rising to cover the bill after the war with Iran choked off oil supplies. Walsh, while fielding questions from journalists at the end of the 82nd IATA Annual General Meeting (AGM) and World Transport Summit in Rio de…

ECOWAS Air Travel Reform Stalls as Only One Country Implements 25% Tax Reduction

Posted on June 8, 2026June 8, 2026 by Wole Shadare

IATA lauds bloc’s 25% Aviation Tax Cut, faults Slow Implementation Wole Shadare, Rio de Janeiro, Brazil The International Air Transport Association (IATA) said the decision by the countries of the Economic Community of West African States (ECOWAS) to reduce airport and travel charges by 25 per cent would help to address the region’s major structural hurdles. IATA’s Regional Vice President for Africa and the Middle East, Kamil Alawahdi, in an interview with Aviation Metric at the…

IATA: Africa Outpaces Global Average in Air Freight Growth Despite Headwinds

Posted on May 28, 2026May 28, 2026 by Wole Shadare

Despite punishing fuel costs and network rerouting, African aviation has proven remarkably resilient, maintaining its position as a primary bright spot in the global logistics landscape. According to the latest global air cargo market data released by the International Air Transport Association (IATA), the continent’s aviation sector is maintaining a strong growth streak despite a highly turbulent global operating environment. The 7.7% surge in Cargo Tonne-Kilometres (CTKs) for African carriers comfortably outpaced the global average…

NAHCO Aviance Reports Stellar 2025 Results, PAT Soars to N17.5 Billion

Posted on May 17, 2026 by Wole Shadare

Leading ground handling company in Nigeria, Nigerian Aviation Handling Company (NAHCO Aviance) has increased its total revenue by 22.93 per cent from N53. 54 billion in 2024 to N65. 82 billion in 2025. In the same year, Profit Before Tax jumped by 29.83 per cent to N24.28 billion in 2025, as against N18. 702 billion in 2024. Profit After Tax grew by 36.02 per cent from N12. 87 billion in 2024 to N17.5 billion in…

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…

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