Business

Nigeria lost N500b to foreign carriers in 2017  Former Governor of Abia State, Dr. Orji Uzor Kalu has thrown his weight behind the establishment of a national carrier, Nigeria Air, stressing that the move would help to reduce capital flight. He expressed the optimism that the establishment of a national airline would go a long way in stemming the huge capital flight associated with the patronage of foreign airlines by Nigerians.  Nigeria lost an estimated…

Strong airline needed to strengthen MMIA axis Despite about N800 billion spent to bring Nigeria’s airports, especially the Murtala Muhammed Airport, to international standards through remodelling seven years ago, stakeholders have registered their displeasure over inability of the aerodrome to attain a hub status. Ranked as the fifth busiest airport in Africa, with an average of 10, 383, 452 pas­senger traffic achieved in 2017, not a experts believe that the Mur­tala Muhammed International Airport (MMIA),…

 Experts in the cargo and aviation sectors have lamented government’s lackadaisical attitude, citing it as the reason for the lack of growth of exportation of agro produce from the country.  Speaking at the agro export air logistics seminar of the Airport Business Summit and Expo in Abuja, speakers were of the views that sound government policies will raise the standard and quality of goods to be exported  In his welcome address, the convener of the…

Our figures accurate-Agency The Nigerian Civil Aviation Authority (NCAA) has maintained that there is no falsification or under declaration of N505 billion air tickets sold for 2017, saying it reaffirmed the sanctity of the recently released statistical data on the aviation industry. Experts including a former Commandant, Murtala Muhammed Airport, Lagos and aviation consultant, Group Capt. John Ojikutu (Rtd) had picked holes with the figure released by the aviation regulatory body, saying figures available to…

MoU to develop aerospace industry in Côte d’Ivoire  Airbus and the government of Côte d’Ivoire have signed a Memorandum of Understanding (MoU) to establish a framework of collaboration to support the development of the country’s aerospace industry which has been identified as strategic for its economic development. The MoU was signed today by his Excellency Amadou Koné, Minister of Transport of the Republic of  Côte d’Ivoire and Mikail Houari, President Airbus Africa Middle East in the presence…

Rising costs put carriers under pressure Jet fuel prices expected to rise From Wole Shadare (Sydney, Australia) The Director General of International Air Transport Association (IATA) Alexandre de Juniac said airlines will rake in $33.8 billion this year, adding that aviation’s financial foundation is stronger than ever. He made the remark today while giving report on the air transport industry at the on-going World Air Transport Summit in Sydney, Australia. The IATA boss stated that…

   Charges are higher for privatised airports-IATA Why privatised airports fail to deliver   From Wole Shadare, Sydney, Australia  There are indications that inbound and outbound passengers may pay more for air travel as charges and taxes are expected to be raised astronomically should the Federal Government go ahead with its planned concession of its major airports. The International Air Transport Association (IATA) has urged governments including Nigeria not to consider aerodromes for privatisation and…

Gets $736 million bail out funds, plans three years turnaround The Chief Executive Officer of troubled South African Airways (SAA) Vuyani Jarana said the Nigerian route and most of its high yield routes would be developed more as the carrier begins a turnaround project that would again return it to profitability. He stated that Nigeria with a population of about 180 million people is key to their market and one that should not be joked…