Business

The Export Development Canada (EDC) has warned the Economic Financial and Crime Commission (EFCC) to lay off its Mortgage Rights, the CRJ 1000 which the crime commission is obstructing the owner from repossessing following a petition filed by Sir Johnson Arumemi, founder of Arik Air. The situation has called to question the urgent need by the Nigerian state to protect the interests of international lenders, such as Export Development Canada (EDC), and other potential lenders…

Wheel fall out, embarrassment to Boeing   The Nigerian Safety Investigation Bureau (NSIB) has disclosed the cause of the incident involving a Boeing 737-400 aircraft operated by Max Air Limited with registration number 5N-MBD. The Director General of the NSIB, Akin Olateru, disclosed this while speaking with journalists on Thursday in Abuja. According to Olateru, the incident which occurred on May 7th, 2023 was due to poor maintenance and power failure. He said the Yola…

‘Doing so with debts, litigation would be huge mistake’   Former Minister of Aviation, Senator Hadi Sirika said merging of troubled and hugely indebted Arik Air and Aero Contractors to form a national airline for the country would have been a huge mistake by the government because of litigations and the over N350 billion exposure of Arik to the Asset Management Corporation of Nigeria (AMCON). Sirika made the disclosure on Sunday while appearing on Arise…

  Only N3 billion spent on project since 2016, Sirika carpets ‘selfish’ airlines   Former Minister of Aviation, Senator Hadi Sirika Sunday revealed a damning request made by the former Chairman, of the House Committee on Aviation, Nnaji Nnolim who branded the launch of Nigeria Air as fraud by demanding five percent shares of the carrier which was rejected flatly by him. The Ex-Minister said he had evidence to show that the lawmaker made such…

The sky isn’t the limit when it comes to testing innovations for a more sustainable future. Delta recently completed its second annual Sustainable Flight Challenge using its most fuel-efficient aircraft with roundtrip flights from Los Angeles to Atlanta (medium-haul domestic) on May 17, and Atlanta to Paris (long-haul international) on May 23. Organised by the SkyTeam Alliance, this challenge tasks participating airlines around the world to activate passenger flights with sustainability in mind to help…

  Msheila: Multiple charges killing sector   Wole Shadare, (Istanbul, Turkey) The Chief Executive Officer of RwandAir, Yvonne Makolo said African airlines are really disadvantaged with the high rate of jet fuel, saying Jet A1 costs four or five times more in Africa than Europe. She added that the situation has made airfares in the continent to be expensive. In terms of jet fuel within the continent, the continent’s carriers are already paying such a…

Nigeria, Ethiopia, Algeria, Lebanon, others keep carriers’ $2.3 billion monies Abide by int’l treaties, pacts, airline body tells Nigeria Wole Shadare (Istanbul, Turkey) The International Air Transport Association (IATA) has attributed the lull in economic activities occasioned by the just concluded elections as the reasons international airlines’ blocked funds had continued to pile up to the tune of $812.2 million. Kamil Al-Awadhi, Regional Vice President of Africa & Middle East for IATA who spoke to…

A United Nigeria Airlines (UNA) aircraft has skidded off the runway 18L at the Murtala Mohammed Airport 2 in Lagos. Head, of Corporate Communications, Achillus-Chud Uchegbe in a statement said the aircraft, 5N-BWW with 50 passengers on board, was flying in from the airport in Abakaliki, Ebonyi state when the incident happened. The aircraft landed safely but was forced to terminate its movement to the apron off the runway. All passengers disembarked safely and were…

ITA Airways, Italy’s national carrier, has taken delivery of its first A330-900, on lease from Air Lease Corporation (ALC) (NYSE: AL), during a ceremony held in Toulouse. The A330neo will join the ITA Airways fleet in June to serve its long-haul routes and new intercontinental destinations. The A330neo is the latest-generation aircraft type from Airbus to join the ITA Airways’ fleet. The airline already operates all Airbus aircraft Families with a fleet of 68 Airbus aircraft (4 A220s, 50…

As the Federal Government concludes plans to fly in some of the aircraft in Nigeria Eagle livery, Airline Operators of Nigeria (AON), the umbrella body of some airlines in the country have petitioned President Muhammadu Buhari over the airline and asked the President to stop the airline. The operators raised a storm about plans by the Minister of Aviation, Hadi Sirika to flag off operations in Nigeria despite restraining court orders on the controversial project….