Business

    The Federal Aviation Administration (FAA) has issued Boeing with a list of recommendations and fixes for its grounded 737 Max after completing a series of flight tests last month. In the fairly substantial list of fixes, the FAA recommends changes to the MCAS system, which is partly blamed for the two Max crashes. The FAA also expects computer changes, the addition of a warning light and the rerouting of electric wires. The FAA’s…

**Boeing reports $2.4bn quarterly loss **Scales back jet production   Aircraft giant, Boeing said it would stop producing the iconic 747 jumbo jet in 2022, which is also when 777X launch customer Emirates will receive its first mini jumbo – a year later than previously planned. The US plane maker will also be reducing output of its 777s, 787 Dreamliners and previously best-selling 737 Max aircraft in the wake of the pandemic and its impact…

The Federal Executive Council (FEC) has approved the ratification of Air Transport Agreement between Nigeria and the United States. The air transport bilateral agreement will strengthen economic, social and cultural ties between the two countries. The Council also approved the new National Forest Policy for the country to replace the old one formulated in 2006. Minister of Information and Culture, Alhaji Lai Mohammed, who stood in for the Minister of Aviation, Hadi Sirika, disclosed this…

**Five African countries account for 19% traffic in the continent   As a consequence of the pandemic and associated restrictions, African airlines are forecast to lose $2 billion in 2020. Without urgent financial relief, the industry is at risk of collapse, putting about 3.3 million jobs and $33 billion in African GPD in jeopardy according to the International Air Transport Association (IATA). To date, the governments of Sub-Saharan Africa Rwanda, Senegal, Côte D’Ivoire and Burkina Faso…

As Dubai opens for business, Emirates has announced it will resume flights to Nairobi (from 2 August), Baghdad and Basra (from 10 August). The world’s fastest growing airline is thus expanding its growing network, and offering customers in Africa and around the world more convenient connections to Dubai, and via Dubai. This will take the airline’s passenger network to 67 destinations in August, including seven points in Africa and five points in the Middle East. This…

The COVID-19 crisis is forcing airlines to think out of the box by adopting small aircraft model amid dwindling passenger number, prompting likely paradigm shift in aircraft utilization. WOLE SHADARE writes   Changing model The airline industry in Nigeria may have a new business mantra: Smaller is better. The COVID-19 outbreak is gradually leading to airlines taking painful but right decision to reduce their fleet size or changing entirely their business model to smaller and…

  NOVA Merchant Bank, a leading merchant bank in Nigeria, has announced the successful issuance of its N10 billion 7-Year Subordinated Unsecured Bond under its N50 billion debt issuance programme. The transaction represents NOVA’s first bond issuance in the debt market and was oversubscribed by 300 percent. The offer which opened on June 30, 2020 following relevant approval from the Securities & Exchange Commission (SEC) and the Central Bank of Nigeria (CBN), closed on July…

  Linus Benjamin Bauer, founder and managing director of Bauer Aviation Advisory, argues why a collective approach must be considered as the key to regenerating air traveller confidence     In recent times, airlines have shown a collective intent to quickly rebuild network connectivity at any cost. To this effect, after what has felt like epochs for some, we are about to hear the roars of the turbofan more frequently again in the coming weeks….

    Arik  Air  has  announced  the  resumption  of  flight  operations  to  Mallam  Aminu  Kano  International Airport, Kano and Yola Airport effective Tuesday, July 28, 2020. Both services according to the carrier will originate from Nnamdi Azikiwe International Airport, Abuja with connections to and from Murtala Muhammed Airport, Lagos. Arik Air will be operating separate flights from Abuja to Kano and Yola. Flights from Abuja to Kano will operate four times weekly on Monday, Wednesday, Friday and Sunday while flights from Abuja to Yola will operate thrice weekly on…

Airbus has agreed with the governments of France and Spain to make amendments to the A350 Repayable Launch Investment (RLI) contracts. After 16 years of litigation at the World Trade Organisation (WTO), this is the final step to stop the long-standing dispute and removes any justification for U.S. tariffs. The tariffs imposed by the United States Trade Representative (USTR) are currently harming all targeted industry sectors, including U.S. airlines, and are adding to a very…