Business

Air France-KLM is slowly returning to profitability. Higher bookings and lasting effects of the restructuring and recapitalization initiatives have produced better results in the second quarter and first six months. More improvements are on their way, but the airline group is reluctant to look further ahead than the current third quarter. The French-Dutch airline group reported a combined Q2 loss of €1.492 compared to €-2.614 billion last year. New CFO Steven Zaat stressed this has been…

The Federal Airports Authority of Nigeria (FAAN) at the just concluded League of Airports and Aviation Correspondents (LAAC) 25th Conference with theme: Aviation in Nigeria: Management, Policy and Regulation bagged the Prestigious Lateef Lawal Award for Airport Manager of the Year.  Lateef Lawal was an Aviation Correspondent and founding member of the League whose exploits span over 40 years, he passed in 2020.  The award was received by the Managing Director represented by the Director…

The International Air Transport Association (IATA) has released data for global air cargo markets for June showing a 9.9% improvement on pre-COVID-19 performance (June 2019). This pushed first half-year air cargo growth to 8%, its strongest first half performance since 2017 (when the industry posted 10.2% year-on-year growth). African airlines saw their International cargo demand increase by 33.5% compared with the same month in 2019. This was the strongest performance of all regions worldwide, but…

  IATA faults stockpiling of vaccines by rich nations while continent lacks Wants Govts’ to listen to WHO     The International Air Transport Association (IATA) , the clearing house for global airlines, has disclosed that over $601 million of airlines funds are trapped in some African countries; a situation that has negatively impacted carriers operating into the continent. Nigeria is listed among the countries that are keeping foreign airlines’ funds. On top of this…

BAGASSO seeks RAOI, BAGAIA pact on regional safety oversight   THE Banjul Accord Group Aviation Safety Oversight Organization (BAGASOO) has called for deeper partnership between the Regional Accident Investigation Organization (RAIO) Banjul Accord Group Accident Investigation Agency (BAGAIA) and a Regional Safety Oversight Organisation (RSOO) BAGASOO This is just as BAGAIA has said that Africa has had fewer hull losses in the past six years owing to sharing of information and capacity among member states…

NOVA Merchant Bank held its 4th Annual General Meeting in Lagos where shareholders commended the board and management for its impressive performance over the years. At the meeting held on the 30th of June 2021 at the Head Office, No. 23 Kofo Abayomi Street Victoria Island, shareholders approved the payment of N800m as dividend for the 2020 financial year and urged the Bank to continue the growth trajectory notwithstanding the current challenging macro-economic environment. While presenting…

The International Air Transport Association (IATA), the clearing house for over 290 global airlines has warned that the reliance on taxation as the solution for cutting aviation emissions in the EU’s ‘Fit for 55’ proposal is counter-productive to the goal of sustainable aviation. The body further stated that EU policy needs to support practical emission reduction measures such as incentives for Sustainable Aviation Fuels (SAF) and modernization of air traffic management. “Aviation is committed to…

Market-leading turboprop manufacturer ATR and SKY express, a fast growing airline in Greece, has signed a deal to acquire six ATR 72-600 aircraft, the first of which was delivered on June 30. This marks an important step in the airline’s fleet development plan which will see the further five ATR 72-600 joining its fleet over the next 12 months. The operational versatility of the ATR -600 series is proven worldwide and thanks to the ability…

The Federal Government has reopened commercial flights at Osubi Airport in Delta. Speaking at the reopening ceremony on Friday at Osubi Airport in Okpe Local Government Area, the Airport Manager, Mr Wilson Egwato, said that the routes would be expanded soonest. The Federal Government had shut down commercial operations at the airport in February 2020, following the inability of the former operator of the facility, Shorelines Oil Services Limited, to run it optimally. The Airport is…

Agency releases Turkish Airline incident, others The Accident Investigation Bureau – Nigeria (AIB-N) today released the cause of Chanchangi Airlines serious incident, which occurred 11 years ago at Kaduna airport with 45 souls onboard. The agency equally released reports of additional seven aircraft serious incidents and an accident, including Turkish Airlines owned aircraft and issued nine safety recommendations. Briefing journalists in Abuja on Thursday,  Commissioner, AIB-N, Akin Olateru,  said that the agency was notified of…