Business

Ibom Air has taken delivery of the airline’s fourth Bombardier CRJ 900 aircraft. The aircraft arrived Lagos from Calgary, Canada at 10:48 pm local time, Tuesday evening (05 May, 2020). The management of the airline in a statement said it is pleased to receive the first of two recently purchased Bombardier CRJ 900 aircraft, in line with our fleet expansion strategy. With this addition, the fleet grows to four aircraft. This particular aircraft, with registration…

  Abuja, Lagos airports’ closure dims May salary payment Expert highlights agency’s survival plans Chairman, NIGAV Centre and Airport Business Summit, Mr. Fortune Idu disclosed that the outbreak of COVID 19 pandemic has taken a serious toll on the fortunes of the Federal Airports Authority of Nigeria (FAAN), describing it as the strongest player within the nation’s aviation industry. To him, the dilemma of FAAN is that whereas it has 22 airports in its kitty, the…

  By the end of May 2020, most airlines in the world will be bankrupt. Coordinated government and industry action is needed now, if catastrophe is to be avoided, writes WOLE SHADARE Bankruptcy fear As the impact of the coronavirus and multiple government travel restrictions sweep through the world, many airlines have probably already been driven into technical bankruptcy, or are at least substantially in breach of debt covenants. Cash reserves are running down quickly as fleets…

    Far reaching survival measures underway-CEO Airbus CEO, Guillaume Faury has warned his 135,000 employees to brace for potentially deep job cuts as the manufacturer is “bleeding cash at an unprecedented speed” amid the aviation crisis brought on by Covid-19. A letter sent to employees and seen by news outlets warned that Airbus’ survival is at stake unless it takes “far-reaching measures”. The internal memo was sent just days before Airbus releases its financial…

  Workers’ fate uncertain, job losses loom There are indications that Nigerian carriers are at the brink of bankruptcy following COVID-19 pandemic as airlines’ cash reserves are fast drying up. By the end of May-2020, most airlines in the world, particularly Nigerian airlines will be bankrupt. Coordinated government and industry action is needed – now – if catastrophe is to be avoided. As the impact of the coronavirus and multiple government travel reactions sweep through…

  Nation risks 125, 000 jobs, $0.99 bn revenue loss Group calls for urgent help to save airlines The International Air Transport Association (IATA) renewed its call for government relief measures as the impacts of the COVID-19 crisis in Africa deepen. IATA, in its latest assessment of COVID-19 crisis impact on African airlines and air transport listed Nigeria, South Africa, Ethiopia, Kenya, Tanzania, Mauritius, Mozambique, Ghana, Egypt, Senegal and Cape Verde as countries facing the…

  Many of the world’s airlines could be bankrupt by May because of the COVID-19 cisis. WOLE SHADARE writes that air travel has been one of the hardest-hit industries   Changing narrative The coronavirus has changed the job market almost overnight. The global outbreak has seriously impacted the economy and job security. It will have long-lasting, game-changing ramifications. Governments have ordered people to remain indoors and self-quarantine to stop the spread of the coronavirus. Companies have asked their…

  Airbus is temporarily adapting commercial aircraft production and assembly activity at its German sites in Bremen and Stade and pausing production at its A220/A320 manufacturing facility in Mobile, Alabama in the United States. These actions are being taken in response to several factors related to the ongoing COVID-19 pandemic including high inventory levels in the sites and the various government recommendations and requirements which impact at different stages of the overall industrial production flow….