Business

Lament additional costs to operations   Airline operators have kicked against the closure of the Lagos airport 18/Left for the commencement of the installation of airfield lighting. The operators lamented that the runway which had been closed for more than a week was painful because there is no evidence of any work on; a situation they stated has made airlines to be burdened with huge but unnecessary additional costs and flight delays and cancellation of…

Cites Forex hiccups, high maintenance costs, fuel, others Why Jet fuel is costly globally-Walsh     The sign that all is not well in the Nigerian aviation industry is manifesting as a prediction that three carriers could cease operations this year is becoming a reality. The apparent positive recovery mood of the Nigerian aviation industry following the devastating effects of the COVID-19 pandemic may after all be a ruse after all. Just today, Nigeria’s oldest…

Airfares to “inevitably” increase –IATA   There are indications that the astronomical increase in the prices of aviation fuel, otherwise known as Jet A1, could lead the carriers to further adjust airfares. The adjustment could be in the form of fuel tax or surcharge to cushion the effects high cost of Jet fuel on their operations. An airline operator, who spoke to Aviation Metric under strict conditions of anonymity, said the carriers would not have…

The Annual General Meeting (AGM) led by Kenya Airways Board Chairman, Michael Joseph, was the Company’s third virtual AGM that presented to the shareholders a review of the audited financial results and business performance for the year ending 31st December 31, 2021. During the meeting, the shareholders adopted all the resolutions submitted in accordance with provisions of the Company’s Articles of Association, The Companies Act, 2015, The Capital Markets Act and its Regulations, including approval…

Experts and key stakeholders from African air transport, trade, and tourism industries converged in Nairobi from 27 June – 01 July at the first-ever African aviation laboratory to develop roadmaps for the sustainability of the air transport sector in Africa. Led and hosted by African Airlines Association (AFRAA) in collaboration with the African Aviation Group (AAIG), the laboratory’s deliberations were grouped into five projects dedicated to seeking out-of-the-box solutions on specific subject areas, including fuel…

The European Union (EU) has set a new guideline for freight forwarders, airlines, express couriers, and post operators on the shipment of air cargo. With effect from March 1, 2023, all the firms transporting goods to or through the EU (including Norway and Switzerland) would be required to submit advance cargo information in the form of a complete Entry Summary Declaration (ENS), under the second phase of the EU’s new customs pre-arrival security and safety…

·         Why airlines’ pass costs to passengers-Walsh ·         Sanction on Russian oil drives up costs     The high cost of aviation fuel, otherwise known as Jet fuel and the scarcity of the commodity across the globe have been attributed to the shifting of the refining of aviation fuel to other products which led to little demand during the pandemic. The Director-General of the International Air Transport Association (IATA), Willie Walsh who spoke to Aviation Metric in…

Walsh slams Airbus’ decision to revoke order for 50 A321neo aircraft   The Director-General of the International Air Transport Association (IATA), Willie Walsh warned that the ongoing dispute between Airbus and Qatar Airways would leave a negative impact on the industry. He made the disclosure at the just-concluded IATA Annual General Meeting (AGM) held in Doha, Qatar. The IATA chief faulted the European aircraft maker’s decision to revoke an order for 50 A321neo aircraft amid…

International Air Transport Association (IATA) has said Nigeria and other African countries could realise $2.7 billion as economic benefits in terms of Gross Domestic Profit (GDP) with air transport liberalisation. t added that air trade could increase to $1.5 billion and create 300,000 jobs under the Single African Air Transport Market (SAATM). The SAATM is a flagship project of the African Union Agenda 2063 aimed at creating a single unified air transport market in Africa….

  Carriers double fares over blocked fund Country tops four others in trapped funds     The International Air Transport Association (IATA) has described as unacceptable the withholding of international airlines’ funds to $450 million. The amount is more than four other African nations put together. Other nations keeping airlines’ funds are Zimbabwe ($100 million); Algeria ($96 million); Ethiopia ($75 million). The funds are proceeds from sales of foreign airlines’ tickets, among others that are…